Father and Finances

 This week in class I've enjoyed learning about Finances primarily. I have a passion for this topic. It makes me curious and gets me excited. My main questions that I had coming in where: I can be organized and responsible with my own my money, what is the best way to be organized as a couple. I have heard different ideas, however what I have heard that I probably agree with most is, putting all your property together and then make it each others. However when you do that how do you track your expenses and your spouses expenses? My thoughts after this week are these. Each spouse should still track all expenses. Then each week have a 20 minute financial meeting to get on the same page. I do that personally and it is so fun for me. I love seeing where my money is going. How much I am spending. Compare it to my budget to see how I am doing. Also having a joint account will also make it easier. Being able to see what each other are spending money on. 

Some thoughts that are new that I really enjoyed are that having an allowance for your children isn't always a great idea. That isn't how real life works. Elder Marvin Ashton taught that they should work for the money. That benefits them in a number of ways. Including teaching them to work hard. To enjoy working hard. That also creates a relationship with the money. It is a lot easier to be responsible with money you worked for then money you were just given. 

Next thought, finances are super important. There are stats that suggest almost 75% of marriages end because of finances, and even if it isn't that high even if it was 50% that would a huge amount. B rother Williams suggested that he as a family therapist has never seen a couple get a divorce BECAUSE of finances, however that it is a problem that causes more problems. 

Next, a good idea that I like is. Often there is a spouse that spends more then the other, and the other is a tightwad. It is good to be frugal, however if you are constantly on your spouse for making bad financial purchases that can get overbearing. It is a good idea to have a budget each month where you are free to spend it on anything you want. No judgement, you can spend it on anything. 

Next, a great idea to help teach your kids responsibility is when they get older, and one of them goes on a mission to have them all pitch in on the cost of the mission. That makes it so it isn't just a missionary but OUR missionary. That is just an example as well. It could be for a family vacation or for a new TV that everyone wants or something. That is great opportunity to teach the principles of saving, delayed gratification, and consistency. 

Lastly, by keeping your finances in order you are showing and being a good example to your sons. You are teaching them how to live their lives indirectly. I love finances and love my responsibility as a man to provide and take care of my family.