Our money choices and decisions don’t just impact us, they also impact our Family. We support and grow our families with our money and they are often the reason “Why” we do what we do. Money management is often less Personal Finance and more Family Finance.
Who are you bringing the money home for? Who’s today and tomorrow do you really want to save and invest for?
Finance as Family Changes
Finance is one of the biggest causes of family breakdown. It remains a taboo talking point and we each arrive into the relationship with our own set of money beliefs from our own childhood experience.
Family is not defined by genes, it is built and maintained through love.Amalia G. Indian Adoption Center
Your family is the shape and size it is and has it’s own unique financial needs, plans and goals.
We learn many of our money beliefs as children. The experiences we had as a child and how the younger version of ourselves interpreted these can quietly shape these. A family breakdown as an adult can then exacerbate these. For some of us, these emotional and financial traumas are carried into the new relationship, adding an extra layer of complexity.
I’ve been a Single Mum, Married, Divorced, Married again. The day to day financial effect is often obvious. This is often exacerbated with feelings of guilt, anxiety, shame and fear. As a result, family finance can become overwhelming.
Healthy Family Finance
How would a money change change your family? How would a family change change your finances?
Each stage of family change, whether separating, single, blending or second- marriage has its own challenges and benefits. The most successful are where there is clear positive communication between all parents involved and a shared sense of family and money values.
This isn’t always possible. You do, however, have 100% influence over your own feelings, finances, decisions and goal setting. And this is where you can start.
Understanding your own beliefs, values, financial and family goals first and how you can best achieve them for your Family can make the difference to how financially successful your family becomes.
Financial Coaching for your Family