My mum wants to use most of my child trust fund money for her own gain
For those who don't know a child trust fund account is a savings account made by parents for their children to accumulate savings so that when they turn 18, they can use that account to do their own bidding. I recently got my account and my mum doesn't want me to manage my own finances and says that it's her money so she gets to decide what to do with it. In my view, it just speaks in the name itself. CHILD TRUST FUND. It's mine and I have plans on getting involved in the stock market and investing. I want to be smart with my finances and my mum doesn't trust me. Am I terrible for hating my mum because of this? She's controlling and I plan on leaving as soon as I finish Uni or during Uni anyway...
no that's not terrible at all. in that account, there is money that the government put aside FOR YOU. this money is for whatever YOU want to spend it on. your mum shouldve thought about that when she made contributions towards it.
ofc i dont know the context of this situation and whether perhaps your mother is keeping the money from you for now because she thinks your a terrible spender and will immediately spend all the money once you have access to it - if this is the case then sit down and have a chat with her about your plans for the money
but if i take everything you have said as true, then ignore your mum and spend the money you want to spend it on. its not fair for them to spend the money they put aside for you - they shouldnt have put it aside in the first place if they were going to do this. besides no one can withdraw the money except you (even then, you have to be 18)
ofc i dont know the context of this situation and whether perhaps your mother is keeping the money from you for now because she thinks your a terrible spender and will immediately spend all the money once you have access to it - if this is the case then sit down and have a chat with her about your plans for the money
but if i take everything you have said as true, then ignore your mum and spend the money you want to spend it on. its not fair for them to spend the money they put aside for you - they shouldnt have put it aside in the first place if they were going to do this. besides no one can withdraw the money except you (even then, you have to be 18)
(edited 1 year ago)
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