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Hello

My mom used to work ever since we were kids. My dad used to work too but he used to use up all my moms money too and waste his money. Now she is like 60 years old in the us and still working cause my dad doesn't give her money for daily living like food and bills and he doesn't pay then on time leading to penalties fines etc.

I just want to know if there is a way for her to secretly save her money (so my dad doesn't waste it). And yes my parents get retirement benefits but again my dad wastes it all up by giving it to relatives etc

Even if my mom can save her money secretly it would be enough to pay the bills.

How do we do that? They live together

By standing up to your dad and making him realize that his responsibility to your mother comes before any other. By the way, he will not realize it easily. You have your work cut out for you as when things get tough your mom will try to appease him and become an enabler. So you have to be relentlessly firm with your mom more so and your dad.

Does she get her salary direct deposited?
Is there an option to break up the direct deposit, so a %age of the salary into another account. But if the dad is involves in looking into finances/taxes he will still know about it.

Have a separate account in which the money should be direct deposited and have bills automatically paid from that.

Just some thoughts
Good luck!

Rupee;595455Hello

My mom used to work ever since we were kids. My dad used to work too but he used to use up all my moms money too and waste his money. Now she is like 60 years old in the us and still working cause my dad doesn't give her money for daily living like food and bills and he doesn't pay then on time leading to penalties fines etc.

I just want to know if there is a way for her to secretly save her money (so my dad doesn't waste it). And yes my parents get retirement benefits but again my dad wastes it all up by giving it to relatives etc

Even if my mom can save her money secretly it would be enough to pay the bills.

How do we do that? They live together

In India there is an account called PF. People can deposit money in this account through employer directly or after they get salary. This can save taxes and yield decent returns. There is also an option of RDs with banks in India. Investing in insurance products at this age is probably not a good idea. Somebody needs to sit down with them and do some financial planning. For children it will be very difficult to do anything. External help from trusted person may not be a bad idea.

returning_indian;595480In India there is an account called PF. People can deposit money in this account through employer directly or after they get salary. This can save taxes and yield decent returns. There is also an option of RDs with banks in India. Investing in insurance products at this age is probably not a good idea. Somebody needs to sit down with them and do some financial planning. For children it will be very difficult to do anything. External help from trusted person may not be a bad idea.

Per OP, she's earning money in the US. I didn't know money earned in US can be deposited in the PF funds.