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Money Drain: $1850 Coerced Out of Me by Family

Being 19 years old. I got compensated well over $2,000 dollars by Social Security for stolen checks that were supposed to go be going to me during my highschool years.

Of course-that amount really showed the ugly side of money as everyone around me changed, starting with my grandmother whom instantly asked for half.

Wasn’t long before every dollar went to video games, computer accessories, and anything BUT investment or a savings account.

I finally spent my last $150 on an animation table. One of two of the ONLY sensible purchases of that season.

I haven’t been able to work myself back up to that amount of money since.

Submitted by: AJ

Lesson Learned:
I have e-mailed the author of this story to find out if all of the excess money went to family (especially with the mention of video games), or if some of it was spent by him as well. I have not heard back yet, so for now I am assuming both.

It is unfortunate what money can do to family. I’ve seen arguments about money within my own family, and it turns good people into bad people very quickly and ruins relationships.

If I were ever to inherit a sum of money, I would have to be very point blank about my intentions with that money. That’s not to say I wouldn’t help out someone that was in genuine need, but I would not be giving money away to anyone just for the heck of it. I’d have to be stern and put my foot down about it, and if doing that cost me relationships with people, then they aren’t the type of people I’d want relationships with.

As far as additional expenditures rather than savings, well obviously spending carelessly is never a good idea. It’s perfectly acceptable to buy something for yourself, but be reasonable about it and put the rest away for the future or pay down debt. My guideline for spending excess money would be by thirds. Put a third away into savings, spend a third, and invest a third into something for the future (or pay down debt).

Amount Flushed Down the Money Drain: $1,850

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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One Response to Money Drain: $1850 Coerced Out of Me by Family

  1. Fern says:

    Way back when, in the 1970’s, I was being sent checks for Social Security Survivor Benefits. They did not come to me, but to my mother (who was raising me) to help offset the cost of raising me. At that time survivor benefits continued ’till I became 21 since I was in college (this has changed since then, they now end at 18). So I’m rather at a loss to understand why the checks were supposed to go to HIM in the first place. It seems more likely that they were cashed by a non-custodial parent but should have been going to the grandparent who was guardian/raising him.

    If you do hear back from him, I’d love to get more info on that part myself!

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