Over $110k gone: Taiwan woman leaves salary in mum's care, only to find savings wiped out

While some parents open joint accounts with their children as they plan for retirement, there are also children who entrust their parents with their money, thinking that it will be put aside for future expenses such as marriage and buying a house. 

One woman in Taiwan gave her salary to her mother for the past 12 years and assumed that her money was in safe hands.

When she was about to get married, the woman checked her bankbook and got a rude shock — only a small portion of her NT$2.66 million (S$113,000) savings, was left in the account.

In a Facebook group named Anonymous 2 Community, the unidentified woman shared that after she graduated, her mother convinced her to trust her with her NT$24,000 salary.

"If you let me manage your money now, you will thank me in the future," her mum told her.

However, on occasions when the woman wanted to withdraw money from her bank account, she "was scolded for wasting money".

The woman became reluctant to ask her mother for her own money even if she did not have money for food.

She thought her savings would remain untouched until she discovered that only NT$50,000 left in her bank account.

Even after finding out about the missing funds, the woman decided not to confront her mother.

"They believe it's only natural for children to earn money for their parents," she wrote, adding she was disappointed with her parents.

Since then, the woman has learnt a lesson and said she is now managing her own money.

She wrote: "Considering my husband and I have a mortgage, car loans, family expenses, and two children to support, the financial pressure is significant. I don't dare let my mum know my income."

Her story resonated with many netizens, and one shared: "When I was a child, my mother promised to save all the money I received from Chinese New Year red envelopes, but later her memory of that conversation just faded away."

Another person said: "Your mother was willing to lie to you while my mother directly extorts money from me! She tells me to leave if I don't give her money."

"If you wish to maintain peace, there's no need to reveal your true income. The current social context has changed, and so should parents' attitudes. They shouldn't repeatedly resort to emotional manipulation," a third person commented.

ALSO READ: Elderly woman appeals for help after daughter transferred $130k out of their joint bank accounts

ashwini.balan@asiaone.com