I'll try to keep this brief and simple.
I'm a 21f living at home with my single parent dad. I have no siblings and my father and I are estranged from my mentally unwell mother. I have 8k in my primary bank account, consisting of several thousand from a previous job's cessation of employment package. The other few grand is savings from previous jobs. I'm currently employed as a clerk (admin person), but have not yet been given any shifts, three months into my 12 month irregular hour contract. I am a full time student at university who travels an hour to and from uni lectures four days a week.
Issues:
*Dad asked me to open an account with a different bank and has given me his money to store in the account. I find this a little odd...
*Dad now wants me to transfer his money into my main account. This makes me VERY uncomfortable as I don't want him knowing how much money is in my account to begin with, or him making me feel completely tied to him...
*Dad has told me not to withdraw any of my money from my first account. His reasoning is that there is no money coming in from me to help support him and it's 'a backup' just in case my estranged mother threatens legal action of some kind against him.
Why I do as Dad has asked:
*I have had several car accidents in the past three years which only damaged vehicles, without any injuries, all of which my father has covered the costs for dealing with car insurance premiums. I also have to pay off the initial cost of the car, so yes, I am in debt to my father.
*I do not want to be kicked out if I buy any new items that he notices, eg. clothes etc., so he pays for the fuel, food, bills and everything else.
My question is, is any of this dodgy? With not being allowed to withdraw my own money for fear of 'needing backup funds', and being asked to open up one solely for my dad's money. And also, should I not be concerned about him warning me not to use any of my money? Even though I owe him several thousand and he doesn't want me withdrawing it for him?
TLDR: Dad has been advising me to use none of my finances, he made me open another account to store his money in. He tells me it's in case my mother causes us any financial trouble. Dad also wants to now store his money in BOTH of my accounts, including my own strictly personal one, which is under my own name.
Any advice will be much appreciated, thanks in advance!
Submitted April 09, 2017 at 09:13AM by tenativethrowaway7 http://ift.tt/2odSaEG
