finances

Money and Your Marriage | Part 5

2016-11-07T16:53:11+00:00

Taking The Steps To Develop Financial Goals

As with many other areas this starts with a staff meeting. Discuss what you both want out of life; look at both the short term and long term. Next a monthly budget needs to be established. Make room for bills, tithe, savings and other monthly expenses. With in this a decision about credit cards needs to be made. Set aside time to discuss annual financial goals as well. For example, what bills to pay off by end of year, what necessary purchases by end of year and anticipated repairs by end of year. Always keep in mind that love means compromise, mutual submission to each other!

As always listen to today’s podcast for more on this topic.

Money and Your Marriage | Part 5 2016-11-07T16:53:11+00:00

Money and Your Marriage | Part 3

2016-11-07T16:55:53+00:00

Myths About Money- Part 1

One of the first myths that some hold to is the husband should be the one handling the money. Finances should be a team effort with the one who is more financial minded leading the way. Because we marry our opposites one of the two spouses will probably be more financially bent.
Another myth that some believe is “it’s my money I’ll do with it what I please”. They live dual income marriages. It is hard to be one flesh and may create tension and competitiveness if this is how money is handled. What happens if one spouse is out of work or decides to stay home with children? This is why finances should be “one flesh.” Check back tomorrow as we deal with more money myths in marriage.

Listen to today’s podcast for more on this topic.

Money and Your Marriage | Part 3 2016-11-07T16:55:53+00:00

Money and Your Marriage | Part 2

2016-11-07T16:54:50+00:00

Becoming One Flesh With Money

​Genesis 2 states, “and the two will become one flesh”. ​​Few things tare that joining flesh apart as much as the way we handle our finances. Because we probably come into marriage with such different approaches to finances, we must come up with a game plan. Like we stated in our series on setting goals in your marriage, it can begin with setting goals. If spouses can agree on and work towards financial goals it will be a step towards maintaining financial “one flesh”. This all begins with communication. It takes communication to work through financial goals and it takes continued communication as you work towards them. Take the time to evaluate where you are in the financial oneness process. Sit down with your spouse and work through areas that need to be improved on to bring you closer together.

Listen to today’s podcast on finances in marriage.

Money and Your Marriage | Part 2 2016-11-07T16:54:50+00:00

Money and Your Marriage | Part 1

2016-11-07T14:15:03+00:00

Why It’s Such An Area Of Conflict

Money is one of the top three areas of conflict in a marriage; some polls even list it as number one. Why is that? Money can be a very difficult thing to see eye to eye on.   Because we tend to marry our opposites, a spender will usually marry a saver. A “live for the moment” personality will marry a planner. This can cause the area money to be a huge mine field for potential problems. Then many come to marriage from a background with no training in finances or come into marriage with debt. Money can be a cause for huge stress. So how do we come together to deal with money in marriage? Check back this week for answers to that question.

 

Listen to today’s podcast for more on money in marriage.

Money and Your Marriage | Part 1 2016-11-07T14:15:03+00:00

Raising Your Child to be Financially Mature | Part 10

2014-05-20T11:39:37+00:00

The Series Wrap-up

What do I do if I feel like my child is just not getting the concept of how to deal with money?  As a parent, having to constantly repeat yourself can become very frustrating.  We have to remember that we are dealing with people not a computer, it is not a simple one time download.  Parenting is process oriented not result oriented.  We have to allow for the process to take time, not getting frustrated and giving up, if it appears as though something is just not sinking in.  In those times where it feels frustrating we must focus our efforts not on the discouragement, but on any small glimmer of progress.  When we see that glimmer of progress we must go crazy with praise for the child.  There are times when we may not feel the freedom to praise because the child has not reached the goal yet.  We have to keep in mind that part of our job as parents is to be our child’s cheerleader and encourager.  This will help through those times where it feels as though they will never get the concept.  Our encouragement and praise may just be the catalyst that makes that lesson sink in!

 

Listen to today’s podcast for more insight on training your child to be financially responsible.

Raising Your Child to be Financially Mature | Part 10 2014-05-20T11:39:37+00:00

Raising Your Child to be Financially Mature | Part 9

2014-05-20T11:38:31+00:00

Preparing My Children for Financial Independence

One of the main goals for parenting is to train our children to be a responsible adult, which includes their finances.  Training our children requires that we put a plan into place early on to prepare them to handle money wisely.   If we don’t and we drop them off on a college campus or watch them go out the door as adults we have possibly set them up for failure.  To come up with a plan you can start at the end, or goal, and work backwards.  As your child leaves your home the goal is to have them fully prepared to use the tools that come with money, such as a debit card, credit card and budget.

We have talked over the past week how to use allowance with your small children to teach saving and then creating a budget with your older children.  As teens approach the end of high school there must be a plan in place to help train them to use a debit card, bank account and credit card responsibly.  This will take a lot of trust and communication on the part of the parent.  It is necessary to help your child be prepared to handle the financial temptations of the adult world and be strong enough to say no.

 

Listen to today’s podcast for more insight on training your child how to be financially independent.

Raising Your Child to be Financially Mature | Part 9 2014-05-20T11:38:31+00:00

Raising Your Child to be Financially Mature | Part 8

2014-05-20T11:37:18+00:00

Teaching Budgeting

Teaching our children to be financially responsible is more than just teaching them to save, it is also teaching them how to budget.  As our children get older one of the ways we can prepare them for adulthood is by training them to be organized financially.  This will require a few things of us as parents.  We will need to be organized ourselves so that we will know how much they need in order to pay for their own overhead, such as toiletries, ect.  The next thing is to help our child have a system in order to budget this money.  There are many systems out there that can be helpful, envelopes or a binder with pockets can be used.  The next step is to allow them to practice this training.  Just as with teaching them to save it is our job to get out of the way and allow them to make their own decisions.  As with anything practiced it won’t be perfect right away, we must allow them to fail in order to learn the lesson and do better next time.  Keep in mind that it will be much easier on our kids to practice and fail at budgeting now rather than in adulthood.

 

Listen to today’s podcast for more insight on teaching your child how to budget.

Raising Your Child to be Financially Mature | Part 8 2014-05-20T11:37:18+00:00

Raising Your Child to be Financially Mature | Part 7

2014-05-20T11:35:42+00:00

Chores and Allowance

Allowance and chores are both a great opportunity to teach your children what it means to be responsible within the family unit.  If we don’t attach a child’s weekly chores to their allowance we are teaching them that there are things that you do to simply contribute to the family.   As soon as a child is old enough they can begin with simple chores such as picking up their room and making their bed.  As they get older family chores can be slowly added.

One of the reasons to give children chores, such as taking care of their own bedroom, is to teach them responsibility and time management.  It is also good to continue to teach them life skills as they get older because we will not always be there to clean up behind them.  It is also a valuable lesson to teach that chores are done around the house simply to contribute to the family.  Adults don’t get “paid” to make their bed in the morning or do the dishes.  As we have been discussing over the past week, allowance should also be treated as an important training tool for teaching responsibility as well.

Listen to today’s podcast for more insight on teaching your child responsibility through allowance and chores.

Raising Your Child to be Financially Mature | Part 7 2014-05-20T11:35:42+00:00

Raising Your Child to be Financially Mature | Part 6

2014-05-20T11:33:26+00:00

Encouraging Good Stewardship

Is it truly more blessed to give than receive?  For children this may be a hard lesson to get across if we their parents don’t live like we believe it.  Today we are going to talk about the concept of good stewardship.  Good stewardship is not just learning to be good with money it takes this a step farther.  It means learning to be Godly with our money.

The first lesson in stewardship, tithing, is easy to teach your child using their allowance.  Letting your child put aside some of their own money to give back to God on Sunday is very important. We must use this experience to communicate with our children the very essence of stewardship.  This is the fact that God as Creator owns it all and we are merely managers of what He has given us.  If we can continually remind our children, and ourselves, of this concept it helps us not only keep an attitude of gratitude but also of generosity.  As we give our children more and more opportunities to be generous with others they will begin to learn that it is truly more blessed to give then receive.

Listen to today’s podcast for more insight on teaching your child stewardship.

Raising Your Child to be Financially Mature | Part 6 2014-05-20T11:33:26+00:00