Why do minors have less rights than adults?

[dullard]

Originally posted by: goku
What is yoru point? Minors still can work jobs anyways at KFC for all they want but if they deposit that money into a 'savings' account they can't get a dime of that back until their 18, smells like bullshit to me.

That is false too. You can withdraw your money from checking or savings accounts. You simply need your guardian's permission. And I bet 99% of banks don't even check with the guardian - they just take the minor's word. So what is the problem? If you want your money, withdraw it. If the bank says no, then get your guardian's permission and then withdraw it. Minors CAN withdraw money.

You keep asking us to defend something that isn't true. It can't be done. That is like me asking you, goku, to defend why the sky is green. You can't do it.

 

[judasmachine]

just because, now stay off my lawn.

 

[Vic]

Originally posted by: dullard

Originally posted by: goku
What is yoru point? Minors still can work jobs anyways at KFC for all they want but if they deposit that money into a 'savings' account they can't get a dime of that back until their 18, smells like bullshit to me.

That is false too. You can withdraw your money from checking or savings accounts. You simply need your guardian's permission. And I bet 99% of banks don't even check with the guardian - they just take the person's word. So what is the problem? If you want your money, withdraw it. If the bank says no, then get your guardian's permission and withdraw it. Minors CAN withdraw money.

Yep. I got my first bank account on my own when I was 11, and I never had problems depositing and withdrawing money all on my own. The bank never said no.

 

[avi85]

Originally posted by: judasmachine
just because, now stay off my lawn.

:laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh:

 

[rbV5]

Originally posted by: goku

Originally posted by: rbV5
Child labor laws probably play a fair part. Funny, you mention other countries and how they don't "baby" their childeren like in the US. I wonder if you are referring to child slavery, child prostitution, arrainged marriages and forced sweat shop labor? Growing up in some parts of the world isn't all fun and games.

Fact is, adults prey on children and children are protected because of contract law, labor laws and financial rules in the US. Consider yourself lucky. Minors have opportunities to clear their record of mistakes that adults don't.

I suspect minors have a lot more rights in this country than you acknowlege.

What is yoru point? Minors still can work jobs anyways at KFC for all they want but if they deposit that money into a 'savings' account they can't get a dime of that back until their 18, smells like bullshit to me.

Actually, minors can't work at KFC "for all they want" due to labor laws, there are specific regulations. There are also financial instruments that allow minors to deposit and withdrawl their money from accounts as well. Something smells like BS all right.

 

[Turin39789]

Originally posted by: goku

Originally posted by: Vic

Originally posted by: goku

Originally posted by: Vic

Originally posted by: kranky
If minors would be allowed to control their own finances, and enter into contractual agreements, I would quit my job and start my own business in a heartbeat. I would become a millionaire in under a year, legally extracting money from minors who don't know what they are doing.

Thats not funny, how is this any different from elderly people? Elderly people, (assuming of course that all minors are naive) are taken advantage of every day, the elderly are adults and people do exactly what Kranky just said, and thats called FRAUD.

Not all minors are naive, some are some aren't, naive or not, there is not reason why a minor shouldn't be able to have their own checking account, let alone being able to withdraw THEIR OWN MONEY THEY DEPOSITED.

It's funny 'cause it's true, that's why.

Here's what my dad used to tell me when I was kid. "Quick! Leave home and go out into the world now while you still know everything."

Way to avoid the issue...

I think you're the one avoiding the issue. You are claiming that minors can be financially responsible and mature, but then when someone profits off the fact that they are not, you equate being a minor with being elderly and suffering from senility.

Are minors senile or are they responsible?

I'm all for them getting access to their money, and I will follow in Vic's footsteps.

 

[Whoozyerdaddy]

Originally posted by: goku
What is yoru point? Minors still can work jobs anyways at KFC for all they want but if they deposit that money into a 'savings' account they can't get a dime of that back until their 18, smells like bullshit to me.

You're confusing a "trust" account with a normal checking/savings account.
When I got my first job at 16 I opened a checking/savings account and deposited/withdrew as I saw fit.

Many parents start trust savings accounts for their kids. The idea is that you drop all your money in there during your childhood so you can't touch it. That way when they boot your ass out at 18 you'll have just enough to help you realize that life sucks when you're homeless and don't have a job.

 

[imported_goku]

Originally posted by: rbV5

Not all minors are naive, some are some aren't, naive or not, there is not reason why a minor shouldn't be able to have their own checking account, let alone being able to withdraw THEIR OWN MONEY THEY DEPOSITED

What are talking about? My minor daughter can withdrawl money from her account any time she wants to with her bank card. The account itself is not much different than a co-signer for a loan, something I needed even when I was no longer a minor until I buit up my credit.

Right, BUT here is the question, is your daughters account a joint account? Most parents don't realize that which is why some kids can withdraw money from their account while others can't.

Originally posted by: dullard

Originally posted by: goku
Thats not funny, how is this any different from elderly people? Elderly people, (assuming of course that all minors are naive) are taken advantage of every day, the elderly are adults and people do exactly what Kranky just said, and thats called FRAUD.

Not all minors are naive, some are some aren't, naive or not, there is not reason why a minor shouldn't be able to have their own checking account, let alone being able to withdraw THEIR OWN MONEY THEY DEPOSITED.

Do you know the defintion of fraud? Fraud involves lying, tricking, deceiving, etc to get profit or to gain unfair advantages. Having naive elderly people buy your stuff isn't fraud. If children had the legal right to enter contracts, then having naive children signing contracts isn't fraud. Sure, fraud is possible in those cases, but you are false in labeling it all fraud.

Naive people don't know when they're about to get scammed... Hmm.. America is filled with naive people but most people these days that aren't on the extreme ends of 'life' are cautious and generally can smell a scam when they see one.

Originally posted by: dullard

Originally posted by: goku
What is yoru point? Minors still can work jobs anyways at KFC for all they want but if they deposit that money into a 'savings' account they can't get a dime of that back until their 18, smells like bullshit to me.

That is false too. You can withdraw your money from checking or savings accounts. You simply need your guardian's permission. And I bet 99% of banks don't even check with the guardian - they just take the minor's word. So what is the problem? If you want your money, withdraw it. If the bank says no, then get your guardian's permission and then withdraw it. Minors CAN withdraw money.

You keep asking us to defend something that isn't true. It can't be done. That is like me asking you, goku, to defend why the sky is green. You can't do it.

hahaha, yes you have to ask your parent's permission which goes back to the earlier posts. If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Originally posted by: Whoozyerdaddy
You're confusing a "trust" account with a normal checking/savings account.
When I got my first job at 16 I opened a checking/savings account and deposited/withdrew as I saw fit.

Many parents start trust savings accounts for their kids. The idea is that you drop all your money in there during your childhood so you can't touch it. That way when they boot your ass out at 18 you'll have just enough to help you realize that life sucks when you're homeless and don't have a job.

Right, see thats what I thought but then the teller told me that it wasn't a trust account. She had a name for it but I had no idea what it was called, maybe I should go to the bank today and ask her what those types of accounts are called.

You can't open a savings/checking or what ever account with our your parents being there, and then once they're there they MUST create the account as a 'joint' account with the parent and the minor as being co-signers.

 

[dullard]

Originally posted by: goku
Naive people don't know when they're about to get scammed... Hmm.. America is filled with naive people but most people these days that aren't on the extreme ends of 'life' are cautious and generally can smell a scam when they see one.

That is true, but what does it have to do with the topic at hand? If someone sets up a business to get millions from naive children WITHOUT scamming them, then that buisness is legal and it is not fraud.

 

[dullard]

Originally posted by: goku
hahaha, yes you have to ask your parent's permission which goes back to the earlier posts. If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

 

[imported_goku]

Originally posted by: dullard

Originally posted by: goku
Naive people don't know when they're about to get scammed... Hmm.. America is filled with naive people but most people these days that aren't on the extreme ends of 'life' are cautious and generally can smell a scam when they see one.

That is true, but what does it have to do with the topic at hand? If someone sets up a business to get millions from naive elderly people WITHOUT scamming them, then that buisness is legal and it is not fraud.

Same thing.

Originally posted by: dullard

Originally posted by: goku
hahaha, yes you have to ask your parent's permission which goes back to the earlier posts. If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

 

[acemcmac]

Originally posted by: goku

Originally posted by: dullard

Originally posted by: goku
Naive people don't know when they're about to get scammed... Hmm.. America is filled with naive people but most people these days that aren't on the extreme ends of 'life' are cautious and generally can smell a scam when they see one.

That is true, but what does it have to do with the topic at hand? If someone sets up a business to get millions from naive elderly people WITHOUT scamming them, then that buisness is legal and it is not fraud.

Same thing.

Originally posted by: dullard

Originally posted by: goku
hahaha, yes you have to ask your parent's permission which goes back to the earlier posts. If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

GIVE IT UP! If you're as mature as your say you are and your parents aren't giving you the leeway you think you need, get yourself emancipated, otherwise SHUT UP!

 

[Turin39789]

Originally posted by: goku

Originally posted by: dullard

Originally posted by: goku
Naive people don't know when they're about to get scammed... Hmm.. America is filled with naive people but most people these days that aren't on the extreme ends of 'life' are cautious and generally can smell a scam when they see one.

That is true, but what does it have to do with the topic at hand? If someone sets up a business to get millions from naive elderly people WITHOUT scamming them, then that buisness is legal and it is not fraud.

Same thing.

Originally posted by: dullard

Originally posted by: goku
hahaha, yes you have to ask your parent's permission which goes back to the earlier posts. If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

They put a roof over your head and fed you. Geez be glad you did'nt grow up on a farm, you would have had a full time job helping out and would'nt have gotten paid for it in the first place.

 

[rbV5]

Right, BUT here is the question, is your daughters account a joint account? Most parents don't realize that which is why some kids can withdraw money from their account while others can't.

I said I was the co-signer on her account, did you miss that? Why would most parents not realize that anyway? You're just making it up as you go...tryng to sound smart, you know...like a kid You said minors can't withdrwl their money, and you are simply wrong.

If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Sounds reasonable to me, anyone can deposit money into my account, but I'm the only one that can withdrawl. I'm quite sure they were aware of the particular rules of the account when they made it, why should you be able to change those rules? Different accounts have different rules, and that applies to adults as well.

 

[dullard]

Originally posted by: goku

Originally posted by: dullard

Originally posted by: goku
If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

First you mention PARENTS depositing money at age 6, now you change the story to you depositing money at age 10. Two different things. Pick one topic and we will discuss it.

At age 10, you can deposit the money you earned, and at age 10 you can withdraw it with permission (in reality, banks never ask for permission so you can withdraw it at any time).

The fact is minors get lots of stuff for free (food, shelter, education, care, etc). In exchange, they haven't yet earned some priviledges. Over time, the free stuff minors get will diminish, and the priviledges they get increase. Maybe you don't like the timing of the changes. But it all balances out. You gain some, you lose some. Timing is always going to be subjective. No rule that applies to everyone will perfectly suit anyone. You may have been responsible at 10, but many other 10 year olds aren't. Thus, the general rule fails in your case. But that rule MUST be there to protect the children.

 

[rbV5]

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

See my answer above. Anyone can deposit into my account, but anyone cannot withdrawl. The bank considers money deposited into my account as my money regardless of who deposits it. The account rules dictate who can wihdrawl, obviously, you are not on the list no matter how lomg you hold your breath or how blue you get doing it.

 

[dullard]

Originally posted by: goku
Same thing.

How is illegally scamming via lying to elderly people the same thing as legally selling to children without lies?

Since you can't tell the difference there, and since you can't keep your examples constant (you morph them to fit your needs for the next post), I'm glad that you can't yet enter contracts. People would destroy you if you could (contracts are set in stone, you can't morph it to fit your needs as time goes on). You should be thanking the laws instead of complaining about them.

 

[imported_goku]

Originally posted by: dullard

Originally posted by: goku

Originally posted by: dullard

Originally posted by: goku
If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

First you mention PARENTS depositing money at age 6, now you change the story to you depositing money at age 10. Two different things. Pick one topic and we will discuss it.

At age 10, you can deposit the money you earned, and at age 10 you can withdraw it with permission (in reality, banks never ask for permission so you can withdraw it at any time).

I don't believe I said that the kid's parents deposited money but ok, lets go with this:

[*]Parent makes account for kid as minors can't make accounts themselves
[*]Parent doesn't put money in but makes it as the kid's account so when timmy makes money, timmy puts money into account.
[*]Timmy at 10 makes money and puts it into account
[*]Timmy is a saver because he learned that if he saves his money, it will pay off in the future.
[*]Timmy is 12 now and has saved quite a bit of money, he has over $500 and now wants to spend a little of his money
[*]Timmy's parents are having problems, they're low on money and never really liked timmy anyways, there is an impending divorce the the stress is high in the house, timmy has 8 siblings which need to go 30 different places at a time.
[*]Timmy asks daddy and mommy to take him to the bank so that he can withdraw money and spend it at the mall.
[*]Timmy's parents default with the 'not now, I'm busy, go ask your 'insert spouse name'
[*]Timmy has a problem, timmy wants to withdraw money but his parents are much too busy.
[*]Timmy asks aunt sally who is visiting to take him, she gleefully agrees as she admires timmy.
[*]Timmy and sally go to the bank, timmy has his bankstatement at hand and asks the teller to withdraw $100.
[*]The teller asks for his mother (as that was the one who opened the account) but timmy tells the teller that mommy isn't around
[*]Bank teller says sorry but unless you mom or dad are around, you can't withdraw money.
[*]Timmy is sad, timmy meets up with sally who was patiently waiting outside. Timmy is sad, and timmy tells his story to sally, after that sally and timmy go shopping, but too bad for timmy, timmy has no money and has to wait for sally to finish her shopping
[*]Sally finishes shopping and they both go home
[*]Timmy is frustrated and decides to go emo, cut him self, and go shop lifting the next time he is out because he can't spend his own money.


Now tell me, do you feel sorry for timmy?

 

[avi85]

Originally posted by: goku

Originally posted by: dullard

Originally posted by: goku

Originally posted by: dullard

Originally posted by: goku
If one turns 18 and their parents had made them a 'savings' account when they were 6 then they will NOT be able to withdraw funds from the account with out parents permission, which IMO is bullshit.

Parents money = parents withdraw. When you are 6, you didn't work for that money. When you were 6, you didn't deposit that money yourself.

But when I was 10 I did work for neighbors, got money and deposited that money into the bank, how can you say thats my parents money???

First you mention PARENTS depositing money at age 6, now you change the story to you depositing money at age 10. Two different things. Pick one topic and we will discuss it.

At age 10, you can deposit the money you earned, and at age 10 you can withdraw it with permission (in reality, banks never ask for permission so you can withdraw it at any time).

I don't believe I said that the kid's parents deposited money but ok, lets go with this:

[*]Parent makes account for kid as minors can't make accounts themselves
[*]Parent doesn't put money in but makes it as the kid's account so when timmy makes money, timmy puts money into account.
[*]Timmy at 10 makes money and puts it into account
[*]Timmy is a saver because he learned that if he saves his money, it will pay off in the future.
[*]Timmy is 12 now and has saved quite a bit of money, he has over $500 and now wants to spend a little of his money
[*]Timmy's parents are having problems, they're low on money and never really liked timmy anyways, there is an impending divorce the the stress is high in the house, timmy has 8 siblings which need to go 30 different places at a time.
[*]Timmy asks daddy and mommy to take him to the bank so that he can withdraw money and spend it at the mall.
[*]Timmy's parents default with the 'not now, I'm busy, go ask your 'insert spouse name'
[*]Timmy has a problem, timmy wants to withdraw money but his parents are much too busy.
[*]Timmy asks aunt sally who is visiting to take him, she gleefully agrees as she admires timmy.
[*]Timmy and sally go to the bank, timmy has his bankstatement at hand and asks the teller to withdraw $100.
[*]The teller asks for his mother (as that was the one who opened the account) but timmy tells the teller that mommy isn't around
[*]Bank teller says sorry but unless you mom or dad are around, you can't withdraw money.
[*]Timmy is sad, timmy meets up with sally who was patiently waiting outside. Timmy is sad, and timmy tells his story to sally, after that sally and timmy go shopping, but too bad for timmy, timmy has no money and has to wait for sally to finish her shopping
[*]Sally finishes shopping and they both go home
[*]Timmy is frustrated and decides to go emo, cut him self, and go shop lifting the next time he is out because he can't spend his own money.


Now tell me, do you feel sorry for timmy?

you are seriously disturbed...

 

[dullard]

Cutting out the useless clutter:

Originally posted by: goku
[*]Parent makes account for kid as minors can't make accounts themselves
[*]Parent doesn't put money in but makes it as the kid's account so when timmy makes money, timmy puts money into account.
[*]Timmy at 10 makes money and puts it into account
[*]Timmy is a saver because he learned that if he saves his money, it will pay off in the future.
[*]Timmy is 12 now and has saved quite a bit of money, he has over $500 and now wants to spend a little of his money
[*]Timmy and sally go to the bank, timmy has his bankstatement at hand and asks the teller to withdraw $100.
[*]The teller asks for his mother (as that was the one who opened the account) but timmy tells the teller that mommy isn't around
[*]Bank teller says sorry but unless you mom or dad are around, you can't withdraw money.

Now tell me, do you feel sorry for timmy?

Please clarify. (1) What bank in the world says no? I've never seen one. (2) Who's name is on the account, the mom or the child?

No, I don't feel sorry for the child. Why? Timmy can (a) Withdraw the money because no bank will actually check. (b) Timmy can keep earning money and spend that instead. (c) Actually get permission from a parent, just have them sign their name it is that simple. And/or (d) file for emancipation and therefore control his own money.

 

[imported_goku]

Originally posted by: dullard
Cutting out the useless clutter:

Originally posted by: goku
[*]Parent makes account for kid as minors can't make accounts themselves
[*]Parent doesn't put money in but makes it as the kid's account so when timmy makes money, timmy puts money into account.
[*]Timmy at 10 makes money and puts it into account
[*]Timmy is a saver because he learned that if he saves his money, it will pay off in the future.
[*]Timmy is 12 now and has saved quite a bit of money, he has over $500 and now wants to spend a little of his money
[*]Timmy and sally go to the bank, timmy has his bankstatement at hand and asks the teller to withdraw $100.
[*]The teller asks for his mother (as that was the one who opened the account) but timmy tells the teller that mommy isn't around
[*]Bank teller says sorry but unless you mom or dad are around, you can't withdraw money.

Now tell me, do you feel sorry for timmy?

Please clarify. (1) What bank in the world says no? I've never seen one. (2) Who's name is on the account, the mom or the child?

No, I don't feel sorry for the child. Why? Timmy can (a) Withdraw the money because no bank will actually check. (b) Timmy can keep earning money and spend that instead. (c) Actually get permission from a parent, just have them sign their name it is that simple. And/or (d) file for emancipation and therefore control his own money.

(1) Citibank. According to citibank, all banks check, it's the law!
(2) Well, timmy's bankstatements say "mommy mctuckerson ACF Timmy mctuckerson
(c) Wrong, parent has to be with timmy, timmy may not ask to withdraw money on behalf on mommy but mommy (legal guardian) has to ask FOR timmy to withdraw the money
(d) Timmy doesn't hate his parents and is very understanding of this situation at hand, he understands that it's a tough time and that his parents aren't available, which is why timmy doens't want to file for emancipation. Also, timmy may not know of the option to file for emancipation in the first place.

 

[avi85]

So how old are you really?

 

[dullard]

Originally posted by: goku
(1) Citibank. According to citibank, all banks check, it's the law!
(2) Well, timmy's bankstatements say "mommy mctuckerson ACF Timmy mctuckerson
(c) Wrong, parent has to be with timmy, timmy may not ask to withdraw money on behalf on mommy but mommy (legal guardian) has to ask FOR timmy to withdraw the money
(d) Timmy doesn't hate his parents and is very understanding of this situation at hand, he understands that it's a tough time and that his parents aren't available, which is why timmy doens't want to file for emancipation. Also, timmy may not know of the option to file for emancipation in the first place.

Timmy needs to get another bank. Or at least utilize the one he has. Citibank will give a debit card to a child as young as 6. And no, the stores won't care what the bank's policy is.

I still don't feel sorry for Timmy. Either he needs to look out for himself, he needs to educate himself, or he needs to wait. That is his choice. If he chooses to wait, it isn't my problem. Timmy still got 10 years of free room, board, education, and clothing in exchange for waiting a bit to spend that money. Now that Timmy knows about the limitation, he will use that savings account to, gasp, save money. Then he'd use the rest of his money for spending. He learned his lesson to not spend the saving money.

 

[rbV5]

Timmy needs to get another bank. I still don't feel sorry for Timmy.

Any bank would do the same thing with an account like that. Timmy simply needs either:

*a different account that allows him to make withdrawls with a bank card.
*a little patience to go when mom and dad can also go.
*suck it up because;

Mom and Dad don't want Timmy to spend his measly $500 on something frivilous, or they would find time to go to the bank.

 

[imported_goku]

Originally posted by: dullard

Originally posted by: goku
(1) Citibank. According to citibank, all banks check, it's the law!
(2) Well, timmy's bankstatements say "mommy mctuckerson ACF Timmy mctuckerson
(c) Wrong, parent has to be with timmy, timmy may not ask to withdraw money on behalf on mommy but mommy (legal guardian) has to ask FOR timmy to withdraw the money
(d) Timmy doesn't hate his parents and is very understanding of this situation at hand, he understands that it's a tough time and that his parents aren't available, which is why timmy doens't want to file for emancipation. Also, timmy may not know of the option to file for emancipation in the first place.

Timmy needs to get another bank. Or at least utilize the one he has. Citibank will give a debit card to a child as young as 6. And no, the stores won't care what the bank's policy is.

Wrong, when timmy was 10, he asked the teller if he could have a debit card and they said NO. You can't get a debit card unless you have a checking account.
Also, timmy can't go to another bank because he can't open another account with out mommy or daddy opening it for him, who is to say that this bank will allow timmy to withdraw money on demand? Are you saying timmy should go to a bank that breaks the law? Are YOU a law breaker? IObey the law!

duh. lol

I still don't feel sorry for Timmy. Either he needs to look out for himself, he needs to educate himself, or he needs to wait. That is his choice. If he chooses to wait, it isn't my problem. Timmy still got 10 years of free room, board, education, and clothing in exchange for waiting a bit to spend that money. Now that Timmy knows about the limitation, he will use that savings account to, gasp, save money. Then he'd use the rest of his money for spending. He learned his lesson to not spend the saving money.

Thats a horrible lesson, just horrible. Whats the point of saving money if you can't spend it? Why don't we just have everybody in america save money, but they can't spend it until fornever? lol It's timmy's money, he should be able to spend it as he so chooses. If it's his parents money, then THAT is definately understandable.