[nabs-l] Question for you all

[Ashley Bramlett]

Arielle,
Great advice. I was wondering how people set a budget up. I set up a phone 
account with my bank and its been a life saver so I know what my balance is 
so I don't overdraw. Oh, and how do people read financial documents and 
confidential records like this?
Does your bank provide braille bank statements? What about other documents 
that detail agreements? I get some for investments my parents help me set 
up, but cannot read them. I feel awkward about signing something I cannot 
read; my dad or someone with me summarizes what I'm signing and I am free to 
ask the bank personnel questions when we do it. But, still I cannot read 
these documents so I feel they have more control than me. I have other 
accounts and income came from past internships and family gifts; accounts 
like
money market, CDs, and an IRA.

Thanks.
Ashley

-----Original Message----- 
From: Arielle Silverman
Sent: Saturday, October 13, 2012 4:14 PM
To: National Association of Blind Students mailing list
Subject: Re: [nabs-l] Question for you all

Hi Koby,
I have a few suggestions. First, it is very important to check your
account balance frequently, like once or twice per week, or maybe even
more. This will prevent surprises like having unexpected charges wipe
out what's in your account, which leads to an overdraft. If you don't
know how to check your bank balance by phone or online, go to the bank
and talk to a banker about getting that set up.
Second, I would highly recommend developing a monthly budget, writing
it down and sticking to it. I will post another message here where I
will describe how I do my budget. You don't have to do it exactly my
way, but keeping track of how much money you have to spend will
prevent problems. Once you've written up your budget, show it to your
mom and promise her you will stick to your budget. That way, you will
show her that you are financially responsible, and maybe she will
start to trust you and not impose such extreme restrictions.
Third, once you have your budget, figure out if you have enough extra
money to be able to afford to move out. If you can afford to move out,
or if your mom offers to pay for it, I think that may be the best
choice. If you can't afford to move out, then you will need to follow
the rules, but as I said earlier, if you follow a budget, your mom
should eventually learn that you are capable of managing your own
money.
You can also go to the bank by yourself and request that your mom's
name be removed from your account so she is not able to check your
balance or control how much you spend. Since you are a legal adult,
the bank should honor that request, unless you have a complicated
arrangement with SSI that involves her.
Best,
Arielle

On 10/13/12, Carly Mihalakis <carlymih at comcast.net> wrote:
> Good morning, Koby,
>
> Seems, you oughta just take that required bill into account each
> month and just demonstrate that, despite that burden, you can plan
> accordinglly and therefore, don't need any kind of intervention IE.
> having your ATM card, seized to keep from overdrawing your account. I
> mean, this isn't rocket science. Just show your Mom that, contrary to
> whatever whacked out belief or preconceived notions she might have,
> you know of this charge and will take steps to work around it while,
> imagine this, maintaining custody of your Visa card!
> CarAt 11:24 AM 10/13/2012, Koby Cox wrote:
>>Hello all,
>>This past week my mom went on-line and looked at my bank account and saw
>>that I was overdrawen. A doctors office takes out $110 every month to
>>cover a procedure that I had done the amount that they take out Is what
>>I'm responseible for paying because insurance didn't cover the rest of
>>it. I'm fine with that however, My mom said that she was going to take
>>my bank card away from me until next month and then we'll see If I get
>>It back. She also informed me that I can't spend more than $100 unless I
>>talk to her first. She said that If I don't like her rules then I can
>>pack my stuff and get out. What do you all think about all of this?
>>Right back soon,
>>Koby.
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