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Post by darktippedrose on Sept 3, 2020 18:42:43 GMT -5
does anyone know the safest way to save up money for emergencies without having to alert your spouse or the IRS?
just curious
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Post by saarinista on Sept 3, 2020 19:22:24 GMT -5
does anyone know the safest way to save up money for emergencies without having to alert your spouse or the IRS? just curious Uh, depends on your situation. Can you explain your situation? Sounds like things are not going well. There should be emergency savings regardless. Everyone needs access to money. |
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Post by darktippedrose on Sept 3, 2020 19:24:54 GMT -5
I have inheritance money but only my aunt has access to it. Which is good since my husband can't get his hands on it. I want emergency money I CAN get my hands on. And right now I pay everything but food.
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Post by saarinista on Sept 3, 2020 19:27:02 GMT -5
Well, will your aunt not help you? If you have no control it's not really your inheritance.
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Post by mirrororchid on Sept 3, 2020 19:44:34 GMT -5
I have inheritance money but only my aunt has access to it. Which is good since my husband can't get his hands on it. I want emergency money I CAN get my hands on. And right now I pay everything but food. sounds like you're a breadwinner? Change direct deposit to a different bank. Set up automatic transfer from that bank to your old bank in the same amount as your paycheck. Lobby for a raise, switch jobs, get a side job (part time), set up a home business, or get some overtime. (the new direct deposit not necessary for some of these.) Anything above your old pay won't show up. Just the same amount showing up that always did. Then again, why does he get claim to your check / the expenses you pay for. You said he's not violent. Maybe you're concerned he will be. |
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Post by darktippedrose on Sept 3, 2020 19:44:49 GMT -5
Well, will your aunt not help you? If you have no control it's not really your inheritance. she can help me but I don't like my husband seeing the exchange of money |
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Post by hopingforachange on Sept 3, 2020 20:39:44 GMT -5
You could setup an interest free account with a credit union. Some your not making money off of it, there's no interest to report to the irs.
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Post by Deleted on Sept 3, 2020 21:58:13 GMT -5
If you have direct deposit and your spouse has access to your banking account, it's going to be very difficult to hide it from him/her. At some point, there is going to be a record of money going to the emergency stash. However, if your employer allows you to direct deposit to multiple accounts, I would recommend some money going automatically to an account belonging to a family member you trust (your aunt). It would just be another deduction among many in your paycheck.
If you get paid with an actual check or cash, then your options to secretly save in an interest free checking account are much easier. It just needs to be set up at a bank, credit union, or brokerage that your spouse does not use.
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Post by Handy on Sept 3, 2020 22:20:46 GMT -5
Some people have a credit card account that is similar to a savings account. It is a pre=paid credit card and you can put a little money in the account at a time. There are transaction fees which is a down side.
Some people buy groceries and get a little cash too when they check out. Lots of grocery store credit card machines ask if you want some additional cash when you pay your bill. I heard that several women on different forums take the cash back and hide it someplace.
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Post by baza on Sept 3, 2020 22:35:26 GMT -5
Just how trustworthy your Aunty (who is holding the kitty) is seems key.
"If" she's holding your dough and you needed access to the funds to get a divorce, an A.V.O, set up costs for a new place to live etc, then she'd theoretically just hand the money over at your request .... if she's still got it.
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Post by jerri on Sept 4, 2020 3:04:25 GMT -5
Makes no sense to me. It is your inheritance, but don't hide it from the IRS or your H. It is yours, he can't touch it can he? In my state he/she can't.
Don't trust even family with your money. People are strange birds when it comes to money. If your aunt has your money and you don't have a solid paper trail, your cousins, it is applicable, will burn you?
That's not emergency money, honey. It's yours.
If it is in a trust, just leave it there. Something is wrong here. Sounds like the trust has an age limit on it or something. Are you only supposed to use it for school? Check the stipulations behind it.
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Post by darktippedrose on Sept 4, 2020 14:53:12 GMT -5
i'm thinking of opening up a savings account so that my aunt can transfer my money easier and such. my aunt isn't super trustworthy with money but its my only choice as I might need that money one day to move to the UK.
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Post by Handy on Sept 4, 2020 16:23:27 GMT -5
Darktippedrose, talk to someone connected to a womans shelter. They will have all of the answers for you and then some. They have a lot of experience in situations similar to yours.
In my area I would suggest talking to the sheriff department or the YWCA. One of those 2 places will have suggestions that you will get good legal answers quickly .
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Post by tamara68 on Sept 4, 2020 18:18:56 GMT -5
I had an inheritance too. That was my way out. I had opened up a new account at a different bank. I had to hide my bank card, but my husband found out about the money.
Even though it was My inheritance and he couldn't get to it, he did manage to force me to pay things. He ordered a lot of things so our mutual account was negative. (we could get negative up to a certain amount). This made me decide to leave sooner than I had in mind.
Anyway, this inheritance was essential in leaving. It can be that for you too. Better get planning and don't wait too long.
A good tip of Handy to contact a womans shelter.
Also saving up little amounts with the grocery shopping like Handy says. What you also can do is buy (ordinary) things in a store and return them the next day or so. Hide the cash return money.
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Post by saarinista on Sept 4, 2020 19:53:05 GMT -5
i'm thinking of opening up a savings account so that my aunt can transfer my money easier and such. my aunt isn't super trustworthy with money but its my only choice as I might need that money one day to move to the UK. If I were you, I would talk to a domestic violence counselor or contact a legal aid organization to try to get some free legal advice. My only concern is that if your husband finds out about a savings account, even if you alone open it up, is that he might be able to stake a claim to it somehow because you are married. If he should file for divorce (it could happen) your financial accounts could be frozen by the courts, too, I think and then you'd have no access to the money, possibly. Again, get some advice from a relevant legal aid society. You might check with your local United Way (assuming you are in the US) for direction to an agency with programs tailored to your situation. Also, you can call 311 in most or all of the US and be linked to a hot line that is supposed to direct one to a social service agency that could help you with your particular concern. |
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