Hey you guys,
I’m a 16 year old high schooler trying to make some side money for stuff like clothes, games, etc. It’s really hard making any sort of cash for me because of how much schoolwork I have – I have around an hour or two everyday for free time and relaxing, so not much time to find a job or anything.
Anyways, all of my friends have recently gotten into reselling limited clothing and shoes like supreme, Jordan, and more. They’ve been really successful, working as a team and deciding as a group when to go for pieces that will resell, when to not go for certain items, stuff like that. I though, “hey, what if I open myself a checking account so I can get in on the action and start buying and selling stuff online?” So, I asked my dad if he has any free time in the near future so we can head to the bank. I explained why, and he immediately had a negative attitude towards it.
He had 2 main points on why he wouldn’t let me open an account. One was because of taxes, which to me sounds kind of a ridiculous concern when I’m only attempting to make a couple hundred bucks a month, and selling platforms like stockx take care of selling taxes on these items.
He also had a stance on college scholarships (?) where he said that if a college wanted to give me a scholarship, they’d see money in my bank account and give me a smaller scholarship based on what I had in my bank. I’m assuming he meant a deduction on the scholarship of how much I had in my bank. Something like that.
I wanted to ask you guys if these two points are valid and how I can persuade him to let me open up an account so I can have some freedom when it comes to online purchases, and making some very small pocket money here and there. Thanks guys!