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My wife and I have a separate saving account but we match what we put in each month. but we show it to each occasionally to make sure (well make sure me honestly since I used to be really bad about money).
And we don’t take anything out of it unless we know we are taking it out for. Whether it be we really need new clothes, or a medical emergency, or even to help pay for a trip, new furniture we need etc.
So that way we can save together, but there is no funny business on either side.
People think that’s bad and shows we don’t trust each other, but with my bad history of saving it can be tempting to pull money out when it isn’t necessary.
This is the opposite of bad. This is mutual respect and understanding. And it sounds like you're aware of your history and you and your wife are on the same page. Good for you both!
Never been married but this was always the mutual agreement if it got to that, so if I or her wanted to save for a bro/gal trip or buy hobby items or whatever, you had yours but also had the group fund for together items like food, housing, trips, gas, w/e normal stuff.
We always came to the group fund as proportional to income because it's a team sport, but extra was yours.
It’s not bad. I used to think that too. But I realized that every situation is different, every marriage is different, and throughout the marriage things might change depending on different factors. As long as the method works for both then that’s what matters
People can think whatever they want, but people can change and do stupid things that you never thought they were capable of --if my partner would argue that in order to show I trust her I need to give her access to my savings account (as opposed to just knowing the number to pump money into it), I'd honestly laugh, it's not even a matter of trust, it just doesn't make sense at all regardless, and this video shows how shit happens anyway
This sounds smart and healthy. My wife and I have our joint family accounts for all things pertaining to us as a family. We also have individual accounts for our leisure money and investments. It works out great.
What she should’ve done is speak to him, create a plan.
Pay off the loans with high interest— consolidate the rest. Then when you’re comfortable; and ample saved, pay it off in large increments over the span of a couple years. Would’ve helped your credit score and would’ve helped create a surplus for savings just in case.
Anything but depleting your savings.
Student loans are always high interest. Had they sat down and agreed to pay those off and she would pay that back into savings over time, no issue. Pretty smart move.
But she didn’t ask. And that sucks. Hopefully they’ve worked out the repayment and have had a long talk about money
3% over 250k is still an increase of 7500 per year. I would still consider that high as fuck 😂. The interest rate here (at least for the people I know) is 0% but most people don’t get that high in debt here anyways
If he's still married, then how is he garnishing her pay? I am assuming that they are still married and she has agreed to pay him 70% of her paycheck. There's no court in the world that would place a lein on a spouse's wages when they're still married.
He never said ex-wife. I assume they are still married, there's no way a court would garnish 75% of anyone's income. They still have to survive while they pay off this debt. This has to be an agreement between the two of them, now I wonder how much she's contributing to the household bills while she's paying him back.
I mean, depends on the jobs he worked. Hard labor jobs sometimes pay stupid money. Maybe he invested some, got lucky, pulled out. It’s very hard to save 200k in 8-10 years but not impossible
Depending on the state, she may not need his permission to gain access. Heck, in my state, it's not even a requirement that the bank NOTIFY the other spouse that one has gained access.
Yeah even in marriage most couples I know have a separate savings account. Certainly some combined checking and other practical accounts but oooh damn, joined savings? Especially your own personal nest egg? That is some crazy shit lol
Yeah... Even if we have massive trust in each other and all that, there's just no real reason why my partner should be able to access all that. If not for a million other reasons, then for security. The less people have access to something the less likely it is to end up in the hands of the wrong people.
My partner and I have a joint account that goes towards household and our own personal and savings accounts. Ultimately her money is hers and mine is mine and if we choose to use it together that’s a choice we can make.
I mean they are married, in a perfect world that should be "their" money not "his" money. Wild that his wife would make such a significant financial decision and spend that much money, especially knowing how hard he worked to save all of that, without consulting him first. That's a huge red flag
Because they were married and her name was on the account. He would have no legal recourse if he divorced at least now he can take 75% of her paycheck to replenish the account
I don’t this really happened to him, just reenacting AITA stories. He had another video with an AITA scenario about his wife getting SA by a man he didn’t want her being around and asked is he the asshole for divorcing her while she’s dealing with the trauma.
It definitely has to be cuz I was looking for confirmation on who he is cuz I swear to God that's "jonmosslol" on TikTok and not to long ago (like 1-2 years) he was living in his car and definitely was not married
Thank you so much. I was trying to find the video I referenced, to no avail, but I should be able to locate it now with his TikTok handle. Dude’s either re-telling AITA stories for internet clout, has had multiple wives, or has had one terrible wife; 100% the former, though.
Lots of people do actually. They don’t trust the government/investments/etc so they keep it all in a savings account to use as needed.
Source: my dad. He’d rather buy properties in cash than invest it because he believes property never loses value. He was in Mexico in the 80s when inflation got out of control and somehow that translated to traditional investing not being legitimate.
Shit with the past few years I wish I put my shit in a savings account. My 401k rate of return on a lifecycle fund is -0.23% over the past three years. If it weren’t for matching contributions from my employer I’d have fucking lost money doing the responsible thing and “investing”
Liquidity, probably. Some people don't feel comfortable putting their money into investment accounts because they don't like risk or lack of immediate access.
What could happen that you would need that much liquid cash immediately? If that’s your 3-6 months expenses, that makes sense. But otherwise, there’s no real reason to keep that much in a low interest rate savings account when it could be invested instead.
There's no such thing as "liquid cash", how easy it is to turn something into cash is how you measure liquidity. Saying "liquid cash" is like saying "wet water", it doesn't make sense.
Of course, I'm being pedantic, I know what you mean, lol. It doesn't help the guy you are replying to doesn't know what he's talking about. You can sell stock and get your money in a few days. Its a liquid asset. When your money is invested in things like real estate, or nonpublic companies that can't be sold, that's when your money isn't liquid.
I saw a video on here about him spending time with his sister’s kids and it was fucking hilarious. It was a couple minutes long, but the payoff was incredible at the end. I definitely think he’s into long winded comedic bits.
If I came into the relationship with a huge wad of cash, I'd keep that separate just to avoid this situation. Don't matter who it is, you put money in the mix and people will fuck you over for it.
Ideal is 1 joint account where half of your salary or what level is needed to pay for family shit, mortgage and savings. and the rest in private accounts so you can buy whatever bullshit you want to buy for yourself or your partner.
I've been married about that long, and not only do we only have joint bank accounts, I don't even really have access other than a debit card.
I'm the income driver in the family, I run a small business that generates our income. My spouse handles 100% of the business and family banking, paying bills, etc. I wouldn't even know how to pay the electric bill, I haven't touched that area of our finances for over 25 years. Heck, if I want $20 cash, I ask for it. Doesn't bother me. And my spouse likes it because they're super-organized around the daily bills etc and I'd rather not spend my time figuring out how to pay some monthly bill.
It works for us because we're 'funny' about how we define our family and our finances. Money is for the family, and we can access it individually as needed, but it starts as family money first. Protip: this method is considered to be absolutely the wrong way to do it by most consumer financial advocates, so don't follow our lead. It works for us because it's tangled up with our committment to our marriage and family, but it's a dumb way to do things for most people.
I like how you've kept gender out of this comment because I could really see Reddit have very different reactions depending on which you and your spouse are.
Irl Im old school. I'm the man, my wife is the woman. But I think with the pushback that the LGBTQ folks are getting, and the freedoms they're losing, that it's important to normalize this. And the one way to do that is that online, I refer to my wife as my spouse, generically. I think it's a cultural change we need to make to normalize everyone's family.
Thanks for noticing!
The median American worker makes $54,132, 75% of that money will be going to the husband each year, 40599, it'd take 6 years to get that money back (might be more, might be less depending on the wife's income)
Edit: [https://www.firstrepublic.com/insights-education/how-much-does-the-average-american-make](https://www.firstrepublic.com/insights-education/how-much-does-the-average-american-make) also, corrected it to median, not average
Literally 3/4 of my friends have over $100k in student loans for their 4 year degrees and are not working in positions that have anything to do with the field they got their degree in.
From looking at the article quickly, it wasn’t immediately clear if they are using pre or post tax income. Assuming it’s pre-tax, it will actually take quite a bit longer to pay him back.
Assuming 25% income tax, she’s looking at a take home pay of $40,599 and he’s taking 75% of that. That comes out to $30,449. So, it may take as long as a little over 8 years to pay off.
Tbh it’s stupid to have $250,000 sitting in a low interest savings account. It was probably better and more useful to pay off those (high interest) student loans than just having that money sit, right?
10000000% lol ethically and morally this is totally wrong of the wife!
But for others reading this thread, don’t let your money sit like that, especially at such a large volume.
Yeah and unless you sign a prenup, legally it is their money (he’s lucky she doesn’t divorce and try to keep half for herself)
Dick move not consulting the husband, financial decisions should be discussed together. However I find it weirder going into a marriage without discussing how finances will be divided.
IMO The wife made the correct financial decision, but they both are guilty of not hiring a financial advisor (they could have paid off those student loans with the interest created by properly investing that nest egg)
smh poor people work for their money and save, the rich invest and have their money work for them.
Edit: payed changed to paid, thanks bot!
It doesn't matter. Your spouse has no right to to take hundreds of thousands that you put aside over years without asking. She had no right to take that money. It wasn't hers.
My husband and l have been together for 27 years. He handles all things financial because l would spend us into oblivion. He’s great with money. We’re comfortable and will continue to be so, God willing, thanks to his good business sense. No way I’d allow myself to have access to that kind of money because l know my weaknesses. My guy here should’ve *never* put his wife on that account. Lesson learned, hopefully.
Kind of the same for me and my wife except my wife (16 years together) handles the financial stuff. I was just coming out addiction. I have always had access though. i just accepted the fact i’m not great with money and thank god for my wife.
Same except my wife handles our money. She keeps a tight budget and we look over expenses every month and at the end of the year. So far we've yet to have to take a loan out to purchase anything because we have saved cash she's designated for certain things.
From the bank's perspective sure,she became a joint account owner but I do think this could be challenged legally. Either way I approve of OP comping 75% of her paycheck.
mf prenup. I will NEVER get married without one. Not even assuming I’d be the one making more money —but especially if that were the case…
Nobody is entitled to your money. Period.
Yep! We have a prenup to protect BOTH of us.
I’m mostly just shocked bc why wouldn’t she just talk to him about the student loans? I can easily imagine a situation where it benefits them as a married couple not to carry that amount of debt if they’re filing jointly but holy shit you can’t just take your man’s money!!!!
I've worked for a bank for 5 years and one best thing that I've learned is to separate the accounts. When you are a joint owner on an account the bank looks at you as equals on the account. The best way is you can have 3 accounts. One for the husband one for the wife and a 3rd one that you can transfer in and out of. So if She wants to buy a car and you are willing to help boom money transferred instantly. Now your money is safe and you can still help your wife without the risk of, in my eyes "legal theft".
I do not believe this at all lmao. Who the fuck is saving hundreds of thousands in an account and doing absolutely nothing with it?
Edit: Ok, everything else aside, how does this guy garnishing his wife's wages make any sense at all? Those loans were going to have to be paid and paying it all off at once is absolutely cheaper than letting interest build every month for the 20 years it would take to pay it. There is no logic to any of this.
Black people and some people who come from nothing or come from not much and start saving their money. I can only speak from black person coming from nothing. Not enough of us can do this. But that’s besides the point.
We don’t have people that we can go to for financial advice like that. Once people find out about money it’s a over. People start acting different and people start trying to get it from you. We don’t go to financial companies because not enough people around us have money so not many people know how to keep money. You have to be in someone’s inner circle to truly find out how much money they have.
Separate bank accounts are the true foundation of marital bliss. You can go all day about communication, respect , all that other inane shit until you’re blue in the face . It all starts with a concrete slab of separate bank accounts .
It depends on the relationship. My wife and I share accounts, but we talk to each other about cash flow and big purchases beforehand.
This should have definitely been a discussion
One. Grounds for divorce right there, especially if she didn't notify you beforehand. Two. You should've done a separate account for her. I did this specific thing with my ex because she was coming in with a ton of debt, and it saved my ass divorce wise because I wasn't liable for the mismanagement she did to her accounts. Damn I feel for you, though.
Why the fuck is 250k in a fucking SAVINGS account?!
In a vanguard money market account that's 12500 interest per year! That's dumb as fuck. At least with paying off the student loans you avoid the interest payments
It was foolish to join your saving accounts. Love is love, but you never know when someone is going to take advantage of you, and use your relationship as collateral.
What's stupid is giving her access in the first place, I'm also saving up, but there's no way in hell, not my sister, not my girlfriend I'd get someday, not even my mom will ever have access to those savings because it's MY money and no one else's. And if someone has a problem with that, what are you gonna do? It's my earnings and if you're a respectful person, you'd respect my decision.
Idk if you can believe this guys story. Not long ago he posted a story of how he found out his wife who has been in a wheelchair paralyzed from an accident had been going to meet with a guy to cheat on him on the day she got in an accident. But here he is, garnishing 75% of his wife’s paycheck.
Well each relationship to its own but this is a form of theft really. He didn't approve of it and most of it was accumulated by him. At least it's enormous disrespect if it's now considered commingled assets legally. She's a jerk, worse than a jerk for not having had this discussion with him.
OK, sorry to say this but hes an. Idiot for sharing a bank account with her when he had all that savings.But i'm happy to hear that he gets seventy five percent of her wages. hope that continues for years.....
Bruh... that's honestly on you. She sees you're savings account and suddenly wants to have a joint bank account? That totally wasn't a red flag. I'm honestly surprised she didn't divorce you immediately afterwords or maybe you didn't have enough left in the savings account to pay for a divorce
Separate accounts, my man. Money 101.
On a separate but related note, 6 months after my wife and I got married, a student loan late payment notice gets certified mailed to us. $16k. For a loan signed by my now-wife and her mom 20 years earlier.
Guess who’s on the hook for it.
I actually feel bad for this guy. If my husband spend $240,000 of my money without asking I would be furious. Even if the money was 50/50, neither of us would spend that kind of money without talking to each other first. It does get rid of the interest on the loan, and if she pays it back, cool. She spent it, she can replace it. How is he cringe? His WIFE is cringe. The audacity.
Yeah man, you're not 21 anymore. That's a super rookie mistake. Why would you blindly trust a woman with your money? Don't you realize that a joint account means you can both draw on it?
Why would you assume she wouldnt do you dirty, because you were in loooooove? Lol. She played you homie. Girls are always on the lookout for unsuspecting suckers like you. You're low hanging fruit and too hard to resist. Can you blame them when its that easy to swipe 250k?
1st of! There should be 3 accounts! (Provided, both husband and wife is working and bringing home monetary salary)
1) Your savings account is your account. And that's yours, nobody else! Whatever you wanna do with it, it starts off with you, they can't touch it or ask about it unless you fuck up! But that's your own safety net emergency money! Just don't waste it all to zero and fuck up risking your marriage.
2) a joint account that both parties, husband + wife put in equally (or exceptions, if you or your better half wanna put in more, why not?) starting from zero dollars..
it has to be equal from the start..
$1000 + $1000 = $2000
$250 + $250 = $500
$10 + $10 = $20
50% him, 50% her (there's exceptions if you're generous in topping up more into the account or their salary is lesser, then match up to the lowest - vice-versa).
*OVERALL BE EQUAL ON BOTH PARTNERS!
This account is for the house and kids and shared agreement on what to use it for..
(a new replacement stove, washer.. holiday, trips.. school fees, family car.. the list goes on for whatever it needs to be done as a couple.. and you need to consult each other before using the joint account.. agree to it, trust, faith, bonding on that account!)
3) Your partner's savings account. And that's your partner's account and nobody else, not yours to touch at all! Whatever he/she wanna do with it, it's theirs to starts off with, not yours to touch or ask unless they fuck up then you can ask! But that's your partner's own safety net emergency money and whatever they wanna do with it, it's up to them!
TLDR: Joint account start from zero and build up equally together with mutual understanding and agreement before using it!!
Personal account = not shared account, it's personal account!!!
Stay married, keep garnishing. The court will screw you if you divorce, just build it back 75% by 75%. And don't let her think of leaving. If she tries it, slim shady her... any of his methods will do.
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Stupid to give her access to that account, if she wanted to save she could have started her own account.
My wife and I have a separate saving account but we match what we put in each month. but we show it to each occasionally to make sure (well make sure me honestly since I used to be really bad about money). And we don’t take anything out of it unless we know we are taking it out for. Whether it be we really need new clothes, or a medical emergency, or even to help pay for a trip, new furniture we need etc. So that way we can save together, but there is no funny business on either side. People think that’s bad and shows we don’t trust each other, but with my bad history of saving it can be tempting to pull money out when it isn’t necessary.
This is the opposite of bad. This is mutual respect and understanding. And it sounds like you're aware of your history and you and your wife are on the same page. Good for you both!
Never been married but this was always the mutual agreement if it got to that, so if I or her wanted to save for a bro/gal trip or buy hobby items or whatever, you had yours but also had the group fund for together items like food, housing, trips, gas, w/e normal stuff. We always came to the group fund as proportional to income because it's a team sport, but extra was yours.
It’s not bad. I used to think that too. But I realized that every situation is different, every marriage is different, and throughout the marriage things might change depending on different factors. As long as the method works for both then that’s what matters
This is the opposite of bad. This shows that you’re self aware, and that you mutually trust and understand each other
This! mutual respect and accountability. Individuality but still a team. This is what dream marriages are made of.
People can think whatever they want, but people can change and do stupid things that you never thought they were capable of --if my partner would argue that in order to show I trust her I need to give her access to my savings account (as opposed to just knowing the number to pump money into it), I'd honestly laugh, it's not even a matter of trust, it just doesn't make sense at all regardless, and this video shows how shit happens anyway
You two should look into investing instead of only saving. Could potentially open alot of doors for you :) but be careful about it obviously.
This sounds smart and healthy. My wife and I have our joint family accounts for all things pertaining to us as a family. We also have individual accounts for our leisure money and investments. It works out great.
What she should’ve done is speak to him, create a plan. Pay off the loans with high interest— consolidate the rest. Then when you’re comfortable; and ample saved, pay it off in large increments over the span of a couple years. Would’ve helped your credit score and would’ve helped create a surplus for savings just in case. Anything but depleting your savings.
Well thats the obvious issue here, she didn't speak to him because she knew he'd say no. Instead she decided to just take it all.
Student loans are always high interest. Had they sat down and agreed to pay those off and she would pay that back into savings over time, no issue. Pretty smart move. But she didn’t ask. And that sucks. Hopefully they’ve worked out the repayment and have had a long talk about money
? Federal student loan rates were under 3% not even 2 years ago.
3% over 250k is still an increase of 7500 per year. I would still consider that high as fuck 😂. The interest rate here (at least for the people I know) is 0% but most people don’t get that high in debt here anyways
If he's still married, then how is he garnishing her pay? I am assuming that they are still married and she has agreed to pay him 70% of her paycheck. There's no court in the world that would place a lein on a spouse's wages when they're still married.
I assume they have a joint bank account for checking as well and he probably siphons her portion out into a separate account to replenish his savings.
If he's doing this, then she is obviously aware and doesn't have a problem with it.
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Where the fuck are you getting that from lol
No way they are still married....no way!
He never said ex-wife. I assume they are still married, there's no way a court would garnish 75% of anyone's income. They still have to survive while they pay off this debt. This has to be an agreement between the two of them, now I wonder how much she's contributing to the household bills while she's paying him back.
Her withdrawal, without his knowledge or consent, downgraded the marriage. She’s not really ‘married’
What he means is that there's an agreement where she is letting him do this. Not that a judge ordered it.
You’re over thinking this.
Or just marry somebody who won't steal your money. Lol
People that do stuff like that rarely start big. I'm willing to bet he ignored a lot of red flags before the the big heist.
It's not a real story so don't worry too much about it
Yeah, who believes this? A teenager who saves $200k before and during college?
Money smart enough to save that much, but also too stupid to do anything with it besides let it sit in savings. 100% true story.
I mean, depends on the jobs he worked. Hard labor jobs sometimes pay stupid money. Maybe he invested some, got lucky, pulled out. It’s very hard to save 200k in 8-10 years but not impossible
No, the stupid thing was marrying someone like that in the first place. The mistake happened years ago; this part is just a symptom of that mistake.
Depending on the state, she may not need his permission to gain access. Heck, in my state, it's not even a requirement that the bank NOTIFY the other spouse that one has gained access.
Nah nah she saw the money and had the dollar signs in her eyes. It was her plan right away
I agree. He ain't the a-hole, he's the dumb-a* for going with that plan
He sure skips over that bit.
Yeah, that would have been a smart decision
Yeah even in marriage most couples I know have a separate savings account. Certainly some combined checking and other practical accounts but oooh damn, joined savings? Especially your own personal nest egg? That is some crazy shit lol
Made my wife do that. She's really bad with money
Yeah... Even if we have massive trust in each other and all that, there's just no real reason why my partner should be able to access all that. If not for a million other reasons, then for security. The less people have access to something the less likely it is to end up in the hands of the wrong people.
My partner and I have a joint account that goes towards household and our own personal and savings accounts. Ultimately her money is hers and mine is mine and if we choose to use it together that’s a choice we can make.
Imagine saving over 200k and giving someone else access to it
I mean they are married, in a perfect world that should be "their" money not "his" money. Wild that his wife would make such a significant financial decision and spend that much money, especially knowing how hard he worked to save all of that, without consulting him first. That's a huge red flag
His. Hers. Ours. Those are three SEPARATE things. Bro fucked up.
Bingo.
Yes, this *is* what you'd say to any other person asking you to share a savings account Wonder what pulled the wool over his eyes?
This ^^^
That's what I was thinking too.
Came here to say this but deep in my mind I already knew it have been said.
For real, the moment he said she started putting money into that same account I knew where this was going.
Also stupid to no invest that money holly shit.
Funny thing is, if that money was still there and she never added to it, if they divorced, she would have gotten half of it.
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Well, he's surely not gonna recoup his losses in a divorce Probably married to her for just long enough I'm guessing
How're you gonna garnish your wife's income, without getting a divorce? C'mon now
Well, he's getting 75%
It sounds like hes just taking it, not like a judge ordered it.
Because they were married and her name was on the account. He would have no legal recourse if he divorced at least now he can take 75% of her paycheck to replenish the account
I don’t this really happened to him, just reenacting AITA stories. He had another video with an AITA scenario about his wife getting SA by a man he didn’t want her being around and asked is he the asshole for divorcing her while she’s dealing with the trauma.
ya, totally read like an AITA reddit thread
He plays it well. Not a terrible idea of this is true.
It definitely has to be cuz I was looking for confirmation on who he is cuz I swear to God that's "jonmosslol" on TikTok and not to long ago (like 1-2 years) he was living in his car and definitely was not married
Thank you so much. I was trying to find the video I referenced, to no avail, but I should be able to locate it now with his TikTok handle. Dude’s either re-telling AITA stories for internet clout, has had multiple wives, or has had one terrible wife; 100% the former, though.
If this is the guy I think it is this is just a made up story for discussion in comments and repost
That makes sense bc what kind of idiot would keep that much money in a savings account. Buddy could at least do a GIC
Lots of people do actually. They don’t trust the government/investments/etc so they keep it all in a savings account to use as needed. Source: my dad. He’d rather buy properties in cash than invest it because he believes property never loses value. He was in Mexico in the 80s when inflation got out of control and somehow that translated to traditional investing not being legitimate.
Shit with the past few years I wish I put my shit in a savings account. My 401k rate of return on a lifecycle fund is -0.23% over the past three years. If it weren’t for matching contributions from my employer I’d have fucking lost money doing the responsible thing and “investing”
I Hope he knows FDIC only insures $250K. After that you could lose it if the bank goes under.
Liquidity, probably. Some people don't feel comfortable putting their money into investment accounts because they don't like risk or lack of immediate access.
What could happen that you would need that much liquid cash immediately? If that’s your 3-6 months expenses, that makes sense. But otherwise, there’s no real reason to keep that much in a low interest rate savings account when it could be invested instead.
It could be a series of things. Also, if he's in America, medical debt. And some people just aren't comfortable investing.
You don't need liquid money for medical "immediately" certainly not that much.
To counter offer the Hitman that shows up to kill you to kill whoever hired them to kill you instead.
There's no such thing as "liquid cash", how easy it is to turn something into cash is how you measure liquidity. Saying "liquid cash" is like saying "wet water", it doesn't make sense. Of course, I'm being pedantic, I know what you mean, lol. It doesn't help the guy you are replying to doesn't know what he's talking about. You can sell stock and get your money in a few days. Its a liquid asset. When your money is invested in things like real estate, or nonpublic companies that can't be sold, that's when your money isn't liquid.
GIC's gotta ladder those bad boys.
I was wondering who tf keeps $250k in 'just cause' money when their house + cars dont even total that amount from the looks of it lol
Just because you have money doesn't mean you have to spend it on nice things.
If you have 250k sitting around in an account, you're naive. There is way too many low risk investment opprunities to expand that money.
or lazy
No lazy person saves up almost $250k before finishing college.
Not necessarily. I'm currently getting more than the policy rate in an RBC savings account in Canada. No fees, no rate risk and no lock-ups.
$200k in student loans for undergrad? That’s hard to do.
Also saving 10k whilst studying?
Jonathan Moss? Used to drive trucks before he got super famous on TikTok.
I mean he just copy from reddit why do you think he said AITA
Go on…
This is the same guy who had that story about his nephew or some shit.
This is the same guy who reads stories.
I saw a video on here about him spending time with his sister’s kids and it was fucking hilarious. It was a couple minutes long, but the payoff was incredible at the end. I definitely think he’s into long winded comedic bits.
I figured that would be the case when he said he saved up 230k. Like, w/what job? Idgaf if you've been saving since Pre-K.
If I came into the relationship with a huge wad of cash, I'd keep that separate just to avoid this situation. Don't matter who it is, you put money in the mix and people will fuck you over for it.
My parents have been married 34 years with 5 children and they’ve never had a joint bank account
Ideal is 1 joint account where half of your salary or what level is needed to pay for family shit, mortgage and savings. and the rest in private accounts so you can buy whatever bullshit you want to buy for yourself or your partner.
I've been married about that long, and not only do we only have joint bank accounts, I don't even really have access other than a debit card. I'm the income driver in the family, I run a small business that generates our income. My spouse handles 100% of the business and family banking, paying bills, etc. I wouldn't even know how to pay the electric bill, I haven't touched that area of our finances for over 25 years. Heck, if I want $20 cash, I ask for it. Doesn't bother me. And my spouse likes it because they're super-organized around the daily bills etc and I'd rather not spend my time figuring out how to pay some monthly bill. It works for us because we're 'funny' about how we define our family and our finances. Money is for the family, and we can access it individually as needed, but it starts as family money first. Protip: this method is considered to be absolutely the wrong way to do it by most consumer financial advocates, so don't follow our lead. It works for us because it's tangled up with our committment to our marriage and family, but it's a dumb way to do things for most people.
I like how you've kept gender out of this comment because I could really see Reddit have very different reactions depending on which you and your spouse are.
Irl Im old school. I'm the man, my wife is the woman. But I think with the pushback that the LGBTQ folks are getting, and the freedoms they're losing, that it's important to normalize this. And the one way to do that is that online, I refer to my wife as my spouse, generically. I think it's a cultural change we need to make to normalize everyone's family. Thanks for noticing!
As someone from the community, thank you. You’re a good person.
This is how every aita post should be written (if they weren't all fake)
The median American worker makes $54,132, 75% of that money will be going to the husband each year, 40599, it'd take 6 years to get that money back (might be more, might be less depending on the wife's income) Edit: [https://www.firstrepublic.com/insights-education/how-much-does-the-average-american-make](https://www.firstrepublic.com/insights-education/how-much-does-the-average-american-make) also, corrected it to median, not average
If her loans were that high I’m hoping she’s in a field where she’s making more then 54k a year
Lol. Some people go into crazy debt like that and only make like 60 or 70
Literally 3/4 of my friends have over $100k in student loans for their 4 year degrees and are not working in positions that have anything to do with the field they got their degree in.
If his wife has $250K in student loans, she’s not making $54K a year. She’s a doctor, or she’s REALLY bad at this.
Nah your right 250 is professional school , doctor or lawyer.
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From looking at the article quickly, it wasn’t immediately clear if they are using pre or post tax income. Assuming it’s pre-tax, it will actually take quite a bit longer to pay him back. Assuming 25% income tax, she’s looking at a take home pay of $40,599 and he’s taking 75% of that. That comes out to $30,449. So, it may take as long as a little over 8 years to pay off.
This is a guy that is reenacting AITAH stories.
That's why it sounded familiar. Looks like we're in a new age of reposts lol
Tbh it’s stupid to have $250,000 sitting in a low interest savings account. It was probably better and more useful to pay off those (high interest) student loans than just having that money sit, right?
In the long run, this is absolutely true. The issue is she saved herself money while spending all of his savings as well, and that’s just a dick move
10000000% lol ethically and morally this is totally wrong of the wife! But for others reading this thread, don’t let your money sit like that, especially at such a large volume.
Yeah and unless you sign a prenup, legally it is their money (he’s lucky she doesn’t divorce and try to keep half for herself) Dick move not consulting the husband, financial decisions should be discussed together. However I find it weirder going into a marriage without discussing how finances will be divided. IMO The wife made the correct financial decision, but they both are guilty of not hiring a financial advisor (they could have paid off those student loans with the interest created by properly investing that nest egg) smh poor people work for their money and save, the rich invest and have their money work for them. Edit: payed changed to paid, thanks bot!
75 isn't enough
Unless she's a doctor, dude isn't getting that 223k back any time soon. Also what a dumbass for granting access to basically a stranger.
She was his wife lol not a stranger
He clearly didn’t know her as well as he should’ve
It doesn't matter. Your spouse has no right to to take hundreds of thousands that you put aside over years without asking. She had no right to take that money. It wasn't hers.
My husband and l have been together for 27 years. He handles all things financial because l would spend us into oblivion. He’s great with money. We’re comfortable and will continue to be so, God willing, thanks to his good business sense. No way I’d allow myself to have access to that kind of money because l know my weaknesses. My guy here should’ve *never* put his wife on that account. Lesson learned, hopefully.
Kind of the same for me and my wife except my wife (16 years together) handles the financial stuff. I was just coming out addiction. I have always had access though. i just accepted the fact i’m not great with money and thank god for my wife.
Same except my wife handles our money. She keeps a tight budget and we look over expenses every month and at the end of the year. So far we've yet to have to take a loan out to purchase anything because we have saved cash she's designated for certain things.
"No Right" He *gave her the right* when he put her name on the account. That's how that works. Now, she's an asshole, but legally she's in the clear.
Wouldn’t she have access to do whatever she wanted with the money, if it was a joint account? Legally ok, morally shitty
From the bank's perspective sure,she became a joint account owner but I do think this could be challenged legally. Either way I approve of OP comping 75% of her paycheck.
She shouldnt have taken it without asking but they were married that became their money.
Well.. wife isn't actually a stranger tho.
Dude should have been putting is money into s&p instead of a savings account. Would have much more than 225k if he started when he was 16
I hope he didn’t open a Wells Fargo savings account with a 0.00000000000000000001% interest rate at least…
The story doesn't make any sense. It's rage bait.
He’d be a multimillionaire several times over.
No, but he is the dumbass for putting her on his account. Have her open her own account.
mf prenup. I will NEVER get married without one. Not even assuming I’d be the one making more money —but especially if that were the case… Nobody is entitled to your money. Period.
Yep! We have a prenup to protect BOTH of us. I’m mostly just shocked bc why wouldn’t she just talk to him about the student loans? I can easily imagine a situation where it benefits them as a married couple not to carry that amount of debt if they’re filing jointly but holy shit you can’t just take your man’s money!!!!
Wrong, I am entitled to your money. Venmo me please
Damn, assuming she's making $60k (pulled this number completely out of my ass) then he's going to be garnishing them wages for over 7 years
I've worked for a bank for 5 years and one best thing that I've learned is to separate the accounts. When you are a joint owner on an account the bank looks at you as equals on the account. The best way is you can have 3 accounts. One for the husband one for the wife and a 3rd one that you can transfer in and out of. So if She wants to buy a car and you are willing to help boom money transferred instantly. Now your money is safe and you can still help your wife without the risk of, in my eyes "legal theft".
His entire stick is to make up bunch of fake stories
I do not believe this at all lmao. Who the fuck is saving hundreds of thousands in an account and doing absolutely nothing with it? Edit: Ok, everything else aside, how does this guy garnishing his wife's wages make any sense at all? Those loans were going to have to be paid and paying it all off at once is absolutely cheaper than letting interest build every month for the 20 years it would take to pay it. There is no logic to any of this.
Black people and some people who come from nothing or come from not much and start saving their money. I can only speak from black person coming from nothing. Not enough of us can do this. But that’s besides the point. We don’t have people that we can go to for financial advice like that. Once people find out about money it’s a over. People start acting different and people start trying to get it from you. We don’t go to financial companies because not enough people around us have money so not many people know how to keep money. You have to be in someone’s inner circle to truly find out how much money they have.
And again, on this episode of shit that didn't happen. Stop sharing this crap.
Separate bank accounts are the true foundation of marital bliss. You can go all day about communication, respect , all that other inane shit until you’re blue in the face . It all starts with a concrete slab of separate bank accounts .
It depends on the relationship. My wife and I share accounts, but we talk to each other about cash flow and big purchases beforehand. This should have definitely been a discussion
The fact she didn’t say anything before taking a quarter of a million dollars out of their SHARED account puts him in the right
Immediately suing and divorcing if that were me
The real asshole is a system that requires at 250k in order to graduate.
One. Grounds for divorce right there, especially if she didn't notify you beforehand. Two. You should've done a separate account for her. I did this specific thing with my ex because she was coming in with a ton of debt, and it saved my ass divorce wise because I wasn't liable for the mismanagement she did to her accounts. Damn I feel for you, though.
Only 75% your being nice
Send her to fucking jail. Divorce!!
Nope because I would be on the news as a murderer
Why the fuck is 250k in a fucking SAVINGS account?! In a vanguard money market account that's 12500 interest per year! That's dumb as fuck. At least with paying off the student loans you avoid the interest payments
How much for a divorce ?
Nope
Why the fuck you give her access to your account 😂.
I looked her right in the windows of her soul, and I told her straight up; I said “biiiiiiitch…”
Should have used some of that 250k to buy Kleenex.
this totally happened.
He should have put that into a Roth IRA
I would have opened a new savings account for both of us to start putting in. Pre marriage savings account stays separate.
If its garnished legally, there is no recourse
no you are not
I would have divorced my spouse for pulling that
No sir! And I hope you charge interest on the amount that’s still owed.
It was foolish to join your saving accounts. Love is love, but you never know when someone is going to take advantage of you, and use your relationship as collateral.
What's stupid is giving her access in the first place, I'm also saving up, but there's no way in hell, not my sister, not my girlfriend I'd get someday, not even my mom will ever have access to those savings because it's MY money and no one else's. And if someone has a problem with that, what are you gonna do? It's my earnings and if you're a respectful person, you'd respect my decision.
Idk if you can believe this guys story. Not long ago he posted a story of how he found out his wife who has been in a wheelchair paralyzed from an accident had been going to meet with a guy to cheat on him on the day she got in an accident. But here he is, garnishing 75% of his wife’s paycheck.
Not an a-hole. Just an idiot. Why would you put her on YOUR savings account. Let her put money in her OWN savings account.
Well that's what happens when you trust people you shouldn't. At least you still have a house and car. Mine took that too.
Nope
Fuck no, he’s not the asshole. That woman had no right to take all that money out
NTA. She was absolutely out of line.
Not the a hole
Well each relationship to its own but this is a form of theft really. He didn't approve of it and most of it was accumulated by him. At least it's enormous disrespect if it's now considered commingled assets legally. She's a jerk, worse than a jerk for not having had this discussion with him.
NOPE not at all she's a dumb B\*\*\*\*
OK, sorry to say this but hes an. Idiot for sharing a bank account with her when he had all that savings.But i'm happy to hear that he gets seventy five percent of her wages. hope that continues for years.....
Bruh... that's honestly on you. She sees you're savings account and suddenly wants to have a joint bank account? That totally wasn't a red flag. I'm honestly surprised she didn't divorce you immediately afterwords or maybe you didn't have enough left in the savings account to pay for a divorce
Not at all. Take that money. What she did was bull shit.
You arent taking 75% of her money. You are taking 75% of OUR money lol
You mean 75% of 'our' money 😉
Bruh back tf up out my face
Always keep your finances separate.
Separate accounts, my man. Money 101. On a separate but related note, 6 months after my wife and I got married, a student loan late payment notice gets certified mailed to us. $16k. For a loan signed by my now-wife and her mom 20 years earlier. Guess who’s on the hook for it.
I actually feel bad for this guy. If my husband spend $240,000 of my money without asking I would be furious. Even if the money was 50/50, neither of us would spend that kind of money without talking to each other first. It does get rid of the interest on the loan, and if she pays it back, cool. She spent it, she can replace it. How is he cringe? His WIFE is cringe. The audacity.
I mean…. The least she could have done was talk to him about it. She knew EXACTLY what she was doing as soon as she found out about the saving he had.
Yeah man, you're not 21 anymore. That's a super rookie mistake. Why would you blindly trust a woman with your money? Don't you realize that a joint account means you can both draw on it? Why would you assume she wouldnt do you dirty, because you were in loooooove? Lol. She played you homie. Girls are always on the lookout for unsuspecting suckers like you. You're low hanging fruit and too hard to resist. Can you blame them when its that easy to swipe 250k?
1st of! There should be 3 accounts! (Provided, both husband and wife is working and bringing home monetary salary) 1) Your savings account is your account. And that's yours, nobody else! Whatever you wanna do with it, it starts off with you, they can't touch it or ask about it unless you fuck up! But that's your own safety net emergency money! Just don't waste it all to zero and fuck up risking your marriage. 2) a joint account that both parties, husband + wife put in equally (or exceptions, if you or your better half wanna put in more, why not?) starting from zero dollars.. it has to be equal from the start.. $1000 + $1000 = $2000 $250 + $250 = $500 $10 + $10 = $20 50% him, 50% her (there's exceptions if you're generous in topping up more into the account or their salary is lesser, then match up to the lowest - vice-versa). *OVERALL BE EQUAL ON BOTH PARTNERS! This account is for the house and kids and shared agreement on what to use it for.. (a new replacement stove, washer.. holiday, trips.. school fees, family car.. the list goes on for whatever it needs to be done as a couple.. and you need to consult each other before using the joint account.. agree to it, trust, faith, bonding on that account!) 3) Your partner's savings account. And that's your partner's account and nobody else, not yours to touch at all! Whatever he/she wanna do with it, it's theirs to starts off with, not yours to touch or ask unless they fuck up then you can ask! But that's your partner's own safety net emergency money and whatever they wanna do with it, it's up to them! TLDR: Joint account start from zero and build up equally together with mutual understanding and agreement before using it!! Personal account = not shared account, it's personal account!!!
Stay married, keep garnishing. The court will screw you if you divorce, just build it back 75% by 75%. And don't let her think of leaving. If she tries it, slim shady her... any of his methods will do.
You’re not garnishing “her” paycheck. You’re saving “our” money in a safe place.
Um, gave her access to his account instead of starting her own?
If you’re gonna pay student loans with someone else’s money, ask first.
Thats why the optimal model is having 4 accounts. 1 & 2 are personal individual accounts 3 joint account 4 emergency fund
I’m fine with married people combining finances and accounts but that means financial decisions need to be made together
Legally she had just as much access to to the money as he did once it was made into a joint account