Managing finances in a blended family is complicated because of the interconnected relationships. Some of the traditionally accepted advice may not work, and new strategies are often necessary.
Family Finances
The best gift you can give each other is the gift of grace. Extending grace begins with prayer and intentionally communicating about your expectations, anxieties and hopes for this holiday season.
You are a temporary manager of what God has entrusted to you. Your main goal is to be faithful with God’s resources, not to acquire wealth for your own benefit.
Poor financial communication between husband and wife is common. Talking about money doesn’t always come naturally, but Bethany and Scott Palmer offer tips that can make the process a little easier.
A practical way to communicate about your finances is to create a “money huddle.” It’s not a budget-planning session; it’s a time to address the emotional side of money.
Money matters are so stressful and so frequent that couples are often tempted to hide the truth about their spending. This is what we call financial infidelity.
We work hard to provide for our families and to model a strong work ethic. Our kids see our dedication, but do they know what we’re working for?
Your kids can learn more about their monetary boundaries with your help.
You might be able to withstand the loss of the money you put into a risky financial investment, but there’s another factor to consider — marital risk. Can you afford to damage the relationship with your spouse?
Frequently, financial conflicts focus on how each spouse handles money. But most arguments about money really grow out of a failure to understand each other’s needs and to respect each other’s personalities.