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Is it okay to tap into my child's savings account?

I feel like a bad mom, but I there's been an emergency with where we live and need to move.. Is it okay if I tap into my child (only 2 years old) savings account and borrow? I'll pay back the money. But I have savings accounts for both my kids that they will get when they are old enough..

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Anonymous

Asked by Anonymous at 12:26 PM on May. 9, 2013 in General Parenting

Answers (11)
  • Would it be better if they were homeless or in a bad living situation but still had the savings account fully intact?

    How is this even a question. You aren't asking about borrowing it to get your nails done it is using the money to benefit the children. Something you just can't help it.

    tntmom1027

    Answer by tntmom1027 at 12:27 PM on May. 9, 2013

  • if its an emergency and you will put it back, then I would do it.
    LostSoul88

    Answer by LostSoul88 at 12:28 PM on May. 9, 2013

  • When its for an emergency its ok.
    virginiamama71

    Answer by virginiamama71 at 12:29 PM on May. 9, 2013

  • I think of it like this... if you are the one putting the money in then you can take it out while they are at home. And at her age she won't notice it. If you need it to help with taking care of them, then you are good. If you know that you will be putting it back then use it for moving expenses.

    You aren't a bad mom in my book. You do what you have to do.
    goofygalno1

    Answer by goofygalno1 at 12:29 PM on May. 9, 2013

  • If it's an emergency like this then yes, but if you wanted to g to a concert or something then no, and I think you know this.
    cassie_kellison

    Answer by cassie_kellison at 12:37 PM on May. 9, 2013

  • For an emergency or in your situation, yes. Do your best to put it back.
    maecntpntz219

    Answer by maecntpntz219 at 12:41 PM on May. 9, 2013

  • In an emergency everyone works together. If they were older I would ask them but they are 2 and are not even aware that it is there. I would pay it back as soon as is feasibly possible.
    I do not agree that since you put it in, you can take it out any time. If that were the case you would simply have the account in your own name and have more than one. I feel this is also thee way you feel about it.
    After the fire both kids emptied their accounts for us (They were older) It helped to put a roof over their heads and clothes on their backs.
    They also realized that we were the last to have things replaced, except for clothes for DH to go to work in. Their savings was replaced before we even got a bed for ourselves. We slept on the floor.
    It will make life better for them. Do it.
    Dardenella

    Answer by Dardenella at 12:47 PM on May. 9, 2013

  • For an emergency I think is completely ok. But I do understand your feeling even tough I am the one putting the money in his account I still feel like I am taking something that I shouldn't. Hope everything gets better for you soon.

    Alisim

    Answer by Alisim at 1:09 PM on May. 9, 2013

  • You need it to continue to properly care for them, and you fully intend to pay it back, so do it. If you were doing it to do some kind of splurge on yourself, I'd say it's wrong, but not this.
    wendythewriter

    Answer by wendythewriter at 1:30 PM on May. 9, 2013

  • If your child was older, I'd say ask him or her first. But in this case, I'd say go for it.
    anng.atlanta

    Answer by anng.atlanta at 2:11 PM on May. 9, 2013

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