Posts

Showing posts with the label Family Budgeting

Stop Losing Money: How to Take Control of Your Family Finances

Image
Tax season has a way of holding up a mirror to our lives. You look at the "Gross Pay" on your W-2 and that familiar pit forms in your stomach. You think, “I made that much money last year? Where on earth did it all go?” Without a plan, money is remarkably flighty. If you don't intentionally tell it where to stay, it will fly away like a pet finch when the cage door is left ajar—quick, quiet, and suddenly out of reach. The Workplace Trap vs. The Family Blessing For many of us, our only experience with a "budget" is at the office. In the corporate world, a budget feels like a list of restrictions handed down from a department you’ve never visited. It’s a "no" to your ideas, a "not yet" to your project, and a ceiling on your potential. But a family budget is fundamentally different. It isn’t a corporate restriction; it is a Kingdom duty and a divine blessing. At work, you have no control. At home, you and your spouse are the Finance Committee. ...

The Family Financial Legacy: Actively Training your Kids about Money

Image
  I recently heard a friend describe what she had learned about love and struggles. She described a wonderful 40-year marriage that started with a few bumps when it came to finances. She and her husband had to learn how to communicate and use money together, because they came from vastly different family backgrounds. She grew up in a family that would save and plan for trips and vacations, always looking for cost-saving opportunities. He, on the other hand, grew up in a family that would say at 5 p.m. on a Friday, “Let’s go camping!” and by 9 p.m., they would be out at a campsite—no planning, no thought to the cost, just enjoying their time. Read more about Getting on the Same Page for Money Conversation here . We all come from different financial backgrounds, and we learn a lot about money by watching our parents. As another friend reminded me recently, “More is caught than taught.” Have you thought about what you are teaching your children or grandchildren by your actions? What...