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Advice?

by Zack Sprague
5 replies
Hey warriors ,

Its flatbro. I need some help, a few weeks back I said I got an interview for a job. Well good news is I start tuesday of next week . But theres a problem im 18 and still a junior in high school living with my parents. I have two choices to get paid by a pay card or do direct deposit into a bank account. If I have direct deposit my parents want to take control of the account that already exisits but I wont get any login information at all. I could also create a new bank account of my own or just go with the pay card. With me creating the bank account I will have login information. Im a young adult my mom thinks I will be spending it like crazy. But all I want to save up for is to start drivers ed and get a car! As well as putting some money for my IM business !
#advice
  • Profile picture of the author pierswalker
    Set up your own account and direct deposit
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    • Profile picture of the author medex
      Originally Posted by jasperandrews View Post

      Set up your own account and direct deposit
      Agree. Prove your mom wrong! Give her flowers or chocolate or anything and tell her not to worry about it.
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  • Profile picture of the author DotComBum
    Maybe can consider getting paid through the paycard, but how you withdraw money from the paycard?
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  • Profile picture of the author Myri
    Congratulations for the job, do the best to keep it.

    YOU SHOULD GO FOR A BANK ACCOUNT(checking account), OPEN A NEW BANK ACCOUNT IN YOUR NAME and you will have an ATM card too (which is a debit card).
    You can use your money in 3 different ways: cash, paying with checks or paying with your ATM/debit card, it is much more flexible than the other alternative.

    Another reason for having a bank account:     if in the near future you will apply for a credit card, your chances to be approved are bigger, because in a credit card application is a question if you have a bank account.

    Be sure you choose a bank with no minimum monthly balance, no fees, free checking.
    Usually small banks will offer it, not big banks like CITI, CHASE, WELLS FARGO, BANK OF AMERICA, etc.
    Ask if they are FDIC insured, just in case they go out of business you don't loose your money.
    When you go to the bank to open an account, you need a photo ID.

    Try to explain your mom that you are thinking about your future, to build on saving money (hopefully for your education) and on applying for a credit card.
    She will be very proud of you, just don't disappoint your mom by spending all your money, please.
    I hope it helps in your decision.
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  • Profile picture of the author James B
    Theres a saying, mom knows best. Majority 9 times out of 10 they are right.

    If you feel like you have more self control, start your own account and setup a direct deposit on your own.

    Remember: Ask for a student checkings account, so no monthly fees to maintain.
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