Should I give the money back to my dad? 10 points for your help.?

Question

My dad gave me $10,000 last years for college in the U.S. There are about $4000 left in my bank account. I am planning to go back to my home country. My dad used to have a bank account for me under my name and I have fully control of the money. I want to transfer the money to the bank account under my name because I don't want to bug him for money later if I don't find a job soon.

Am I selfish? How do I handle this? My dad is handling all my account information right now. I need to ask him for account number before I transfer money back home anyway.

Well, if I give him the money--I will have to ask him for some money back anyway if I cannot find a job.

Answer 1

If you don't even know your own account number, you NEED to learn how to handle money.  You state in one sentence you have FULL control of your money.  A few sentences later, you state you dad is handling all your accounts.  ONE of those statements is not accurate.  PLEASE get financial counseling TODAY.

Answer 2

The only way you're going to find out is to ask him if you could hold onto the funds in case you need it for emergencies.

Answer 3

I think it depends on your family's financial situation.  If your family is hurting for money, you should give some of it back.  But other than that I think your dad wanted you to have it for your education and for helping you get on your feet.  I don't think you are being selfish at all.  I think you are being very considerate.  If you're still in doubt talk to your dad about it.

Answer 4

My guess is your Dad gave you the money to help you get on your feet and do well in the world. Get your degree, work on getting a good job and make something of yourself and my guess is you'll make your father very happy and very proud. Do well in your career and down the road when you're doing better you'll probably have plenty to help your father out if he is in financial need or just get something very nice for him someday. Good luck to you and it is great to hear somebody who cares so much for a parent as you obviously do.

Answer 5

Open a new account in your name and transfer the funds there.  If he gave you the money, and it was not a loan, then it is yours to do with as you please.

Answer 6

I agree with stan c that you should tell you dad about the money and ask his advice.

Answer 7

just give the money back so he can see your responsible and that way in the future he'll trust you more and maybe even let you keep the money.

Answer 8

First, don't ruin a great thing.  You have someone who is willing to aid you greatly without getting anything in return.  

I suggest you do not s***w it up.  I would return the remainder of the money for that reason alone.

Stop trying to rationalize why you should keep the money.  Make people regret it when they do you favors, and you will find yourself very alone when you need help again.