Christmas Trust Fund

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A Christmas Trust Fund is not a bad idea, since some family members continue to disappoint year after year, after year. They never have money to contribute to food and other expenses related to family gatherings like Labor Day, Thanksgiving, Christmas and New Year, but specialize in taking ‘a plate’ back to their place.

Blood is thicker than water, but the proverb doesn’t work if blood is reduced to water, because of financial disagreements. Contributions to a Christmas trust fund can start at the end of February because January is out of the question. We are dead broke, trying to shave of bank balances that went crazy because we over-spend in December. Maybe I should not put the cart before the horse. Certain things must be locked in first.

1. Trust fund manager. Whose name should be on the account, mom’s or another member of the family?

2. Can it be a seasonal bank account? Meaning? Deposit only, no withdrawals. Money will be taken out early December to prepare for Christmas.

3. Bank statements are no problem. Contributing family members will get monthly statements.

4. Who will contribute to the trust fund? Should it include daughters-in-laws and sons-in-laws?

5. How much should the contributions be, $50 a month?

Money leaves our accounts electronically every month, donations we make to save the whales, save the baobab tree, feed the children, pay Donald Trump’s legal fees, and other causes. Therefore, it won’t be that difficult to throw money in a trust fund, which will make the 2024 Christmas stress-free, because there won’t be fights about who eats a lot, but doesn’t contribute a dime.

Nonqaba waka Msimang

Executive Blogger

 

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