4 months ago
Students often share how they mess up on the /r/tifu/ subreddit. At the time of writing, the thread created by @prisonMike_wants_out was upvoted 36.1k times. The Typical Student team shares the story with you.
How to Teach Students Responsibility With Money
It all started when Mike's parents wanted to teach him responsibility with money when he was in middle school. So, they opened a bank account for him with a debit card. By the time Mike graduated from high school, he had $4,000 in his account. Last month, he got a text from his mom saying she had transferred the money to her account so that she would pay his rent upfront. Mike was surprised because he believed that up until that day he had been paying his rent just fine. And he didn't get concerned over the transfer up until the day he started the tifu thread.
Fooled By His Own Mother
Mike's rent is due on the 1st of each month and if his mom had prepaid his rent, he wouldn't have gotten a notification to pay it. When he called the support, he learned that no prepayment had been made. When he confronted his parents about the money, his mother told Mike that his father had spent it on paying bills and Christmas gifts because he believed the money belonged to them. So, now Mike is out $4,000 and he has to pay his rent and utility bills.
People on Reddit gave Mike some useful piece of financial advice. So, the guy opened a new bank account and had the amount of money left transferred to his new account. He wrote that he was overwhelmed with the number of people who have PM'd him offering advice.
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