Teaching children how to manage money wisely can be a challenge, even more so if the kids have two sets of parents. Sadly, that’s often the case these days with shared custody after a divorce. Avoiding conflict and using money as an asset (not a liability) is the key to giving children a consistent message equipping them to be good stewards. Ron Deal joins us to talk about that. 
<ul><li>Ron Deal’s the co-author of The Smart Stepfamily Guide to Financial Planning and director of FamilyLife Blended, a part of FamilyLife ministries.</li><li>In blended families, there are often between 3 and 7 adults who influence the child (or as high as 21!). All of these adults have their own messages about right and wrong and about how money should be used. The messages get diluted and the kids are watching. </li><li>Two (and more) voices don’t raise a child, one voice raises a child. </li><li>What if one parent in one home is not meeting their financial obligation, not paying their fair share to the other home? It creates stress and strain and it certainly adds to the animosity between the co-parents. That animosity can more more devastating than the amount of dollars coming in because it blunts the ability to create “one voice” in the family for each other as well as the child.</li><li>Discontentment—what if one of the parent’s household sees more money coming in? Proverbs 14:13 says that “envy rots the bones.” So, maybe one of the divorced parents makes more money. It’s easy to give in to envy, wishing that you had that money to be able to better and more easily provide for your child like the other parent can. This can create a lifestyle war. And, tragically, the child will pick up on this and learn bad ways instead of contentment. Stop comparing, and take this attitude to the Lord!</li></ul>On this program we also answer your questions:
<ul><li>I’m 67, retired, and am taking 4%, as they say. I’ve got stocks and bonds, etc., but what yield do I want to get per year on the whole thing in order to ensure that everything properly floats?</li><li>How do you use a health savings account to maximize retirement savings?</li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a>
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FaithFi

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

Teaching children how to manage money wisely can be a challenge, even more so if the kids have two sets of parents.  Avoiding conflict and using money as an asset is the key to giving children a consistent message. Ron Deal joins us to talk about that.

When Kids Have Two Homes with Ron Deal

FaithFi | Jun 4, 2021

Show Notes

Where Faith Meets Finance

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