'Where Your Treasure Is...': The Podcast where Faith and Finance Meet

In the final episode of this ‘Family Matters’ season, Simon and Bex discuss various financial matters that have particular relevance and significance for hybrid families.Some key points of interest covered in this episode include the following:Simon explains the nature of hybrid families, noting that because they can be complex, their financial arrangements and issues can also be quite complicated. [00:48]From the outset, it is important to acknowledge and appreciate the previous experiences, including those relating to financial matters, that each couple brings to a hybrid family. [03:39]An option that can be worth considering is a prenuptial agreement – or, indeed, a postnuptial agreement – as each of these creates a formal structure and clear expectations that can provide reassurance and safeguards for each member of a couple involved in creating a hybrid family. [06:00]As ever, communication is a vital skill, and Simon recommends being as proactive, deliberate and specific as possible when talking about money. [07:54]In response to a question from Bex, Simon explains that merging and distributing assets within a hybrid family can be complicated. He goes on to stress the importance of understanding the full nature of the choices that need to be made, and of discussing them openly and thoroughly. [08:46]On a practical note, wills [10:55] and expressions of wishes for pensions [12:11] are two key ways of specifying how wealth should be distributed in the event of a parent in a hybrid family dying. Again, it is important to understand fully the details and consequences of the arrangements being put in place.A major challenge can be to treat all members of a hybrid family fairly when dealing with financial matters. [14:20] Sometimes, situations can be complicated by the different spending capabilities and behaviour of the parents involved in a hybrid family. In such cases, Simon recommends being open, honest, balanced and sensitive when talking to children about the situation. [15:49]Prompted by Bex, Simon goes into further detail about how wills, trusts, pensions and expressions of wishes can be used to bring clarity and fulfilment of previously stated wishes when a relationship ends, for whatever reason. [17:35]When it comes to foster children, it is important to know that they do not have automatic rights to inherit in the way that biological or adopted children do. Therefore, specific provision has to be stated, recorded and formalised in situations where it is desired that a foster child will benefit financially. [20:40]When summing up, Simon comments that because the financial affairs of hybrid families are very often complex, it can be helpful to seek assistance from a financial adviser or planner. Very often, a first consultation can be free of charge and will provide the opportunity to explore whether or not it is likely to be genuinely helpful to take up that option. [22:29]After a short break, up next on the podcast will be a bonus episode; and if you feel that you would have something to contribute to such an episode in the future, please get in touch with us as we are always open to receiving fresh input. [24:23]In closing, Simon invites listeners to spread the word about the podcast by all means possible, including making friends listen to episodes on long journeys! [25:09]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the penultimate episode of this ‘Family Matters’ season, Simon and Bex discuss ways of dealing with some of the financial matters that can arise when couples divorce.Some key points of interest covered in this episode include the following:Simon comments that while he lived through a divorce as a child and feels that it is a very important topic to cover in the current ‘Family Matters’ season, he is not a financial specialist in that area. [01:27]In response to a question from Bex, Simon explains that this episode’s discussion will focus on financial issues associated with marriages and civil partnerships coming to an end; cohabiting couples have different rights under the law, which fall outside the scope of this episode. [02:43]The first financial step to take once a divorce is in process is to identify relevant assets. This can be quite a complex task, partly because it can comprise so many different elements and partly because it is not always a straightforward matter to understand and identify the exact nature and value of items such as pensions. [04:57]Another complicating factor is that it is not necessarily the case that every possible asset belonging to each member of the couple will be deemed to be available for sharing. [06:39] In that context, it can be important to understand the following terms: (i) matrimonial property – wealth that has been added during the relationship [07:59]; (ii) non-matrimonial property – assets that have been brought into the relationship [08:57]; (iii) matrimonialised property - resources that have been brought into the relationship and have then been deployed in some way during it. [09:42]The process of valuing assets during a divorce can be complex and contentious. It can be difficult to arrive at agreed valuations, with pensions posing a particular challenge because of the tax and timing factors that need to be taken into account. [10:46]Prompted by Bex, Simon suggests that it is good financial planning for assets in a relationship to be allocated, as far as possible, to each member of the couple on a fairly equal basis so that each of them can have access to an emergency fund, for example. That kind of approach can also help to provide the basis of a fair arrangement, should wealth need to be divided as part of a divorce settlement. [12:32]When it comes to splitting assets, it can often be hard to know how best to deal with a property. The situation with a house can be difficult, if it is not being sold, as it cannot simply be divided in half, and the process of deciding what kind of price to place on it is also not entirely straightforward. [15:01]Whether or not assets should be divided completely equally is a legal decision. [17:11]Because of tax considerations, pensions can be particularly complicated assets to distribute. [18:22] As part of a divorce, pensions can be allocated in one of three ways: (i) pension sharing [20:04]; pension offsetting [21:38]; (iii) pension attachment [22:51].Generally, offsetting is the approach taken to dividing investments, but it can be important to understand any taxation arrangements that apply so that fair and balanced arrangements can be made. [23:47]Finally, Simon suggests that a collaborative approach to divorce, as described on the resolution.org.uk website, can have definite benefits, as long as both parties are on board with the process. [26:17]The final episode of the ‘Family Matters’ season will explore some of the financial matters that can affect hybrid families. [27:42]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the sixth episode of this ‘Family Matters’ season, Simon and Bex discuss how best to deal with financial matters arising from accident and illness factors that can affect families.Some key points of interest covered in this episode include the following:Simon describes the aim of this episode as being to help us to consider our options in light of the potential financial implications of various accident and illness events that can affect us and our families. [00:57]Simon suggests that the first area to explore should be insurance because it provides a means of preparing ourselves financially, to some extent at least, for unexpected changes in our circumstances. [02:29] He goes on to explain that insurance is a way of allowing a number of people to share risks together in a manageable fashion in order to reduce the impact of events that would otherwise have a very detrimental effect upon their financial situations. [03:12]When we are trying to decide what kinds of insurance we should take out, Simon suggests that it is helpful to establish a hierarchy of priorities so that we take out insurance options that are relevant and appropriate for our circumstances. [05:38] Illness insurance might, for example, be more important for a single person to have, compared with life insurance. [06:55]Simon suggests that most insurance decisions are heavily influenced by our emotions and that it can therefore be helpful to adopt an overview of insurance that appreciates the peace of mind that it can provide rather than focusing on the fact that it can end up being an outlay of finances without any tangible return. [08:52]Simon explains that a power of attorney arrangement can be an invaluable provision to have made when significant illness and accident events occur. It can be used in normal life - for example, to give access to a bank account while a spouse is overseas. However, its greatest benefit comes from its use to transfer decision-making powers (relating to finances, property and medical treatment) when someone has lost mental capacity and is no longer able to manage their own affairs. [10:45]A spouse or adult child will often be selected for power of attorney responsibilities, but a friend or trusted adviser would also be an appropriate choice. [12:12]There is no default power of attorney arrangement that comes into force If no such provision has been made, and this can lead to upsetting and expensive consequences for individuals and families. Simon therefore urges listeners to put a power of attorney arrangement in place sooner rather than later. [12:51]A power of attorney can be arranged through a solicitor in Scotland; in England, this can now be completed online. [15:14]The need for long-term care – caused by accident, illness or old age – can also have significant, unforeseen financial consequences. Professional advice can often be very helpful in such circumstances. [16:49] In addition, good family communication is vital in this area, so Bex and Simon encourage listeners to be proactive in raising financial matters in a constructive manner with other family members. [18:57] Simon reiterates that point in his closing remarks. [20:32]Bex invites listeners to share comments and questions through the usual channels: [email protected] via email and @whereyourtreasureispodcast on Instagram. [21:22]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the fifth episode of this ‘Family Matters’ season, Simon and Bex discuss ways in which we can prepare well financially for death.Some key points of interest covered in this episode include the following:Simon and Bex acknowledge that death can be a difficult topic to discuss but suggest that there are real benefits to be gained from talking about financial matters related to death in an open and honest manner. [00:34]In response to a question from Bex, Simon suggests that a key moment to start thinking about making preparations for death is when other people will be financially impacted by our passing. [03:49]The top priority when preparing our estate for death is to have a will drafted by a solicitor. Without that, things can become very messy and expensive. [05:41]Other preparations that can be very helpful include the following: lifetime cash flow modelling to predict future income and expenditure [09:15]; simplification and streamlining of bank accounts, pensions, investments etc. [09:53]; clear communication about what we have and where key information can be found [10:32]; updating details of our ‘financial footprint’ annually [11:47]; sharing accounts and transferring assets once it is clear that death may not be far away [12:20].Simon explains how a deed of variation can be a helpful tool that can allow beneficiaries of an estate to make changes to a will if they all agree to implement a new arrangement. [13:10]In connection with estate planning, it can be helpful to be aware that a will doesn’t include instructions regarding pensions [14:46] and that national laws can take priority on occasion, as is the case with the ‘prior rights’ of spouses and the legal rights of children in Scotland. [16:23]When it comes to the potentially complicated question of to whom should we give what when we die, Simon notes that there are many factors that may need to be taken into account. Ultimately, the decision is ours to make, but good communication will always be a vital part of the process. [17:35]Simon shares some thoughts on how wealth can be passed on to grandchildren, if desired. The use of a trust can be an appropriate and cost-effective way to do this, as inheritance tax can be avoided and the trustees can ensure that the right amount of money is passed on at the right time and in an appropriate manner. [21:09]Simon rounds off his comments by suggesting that if we can be well prepared for death, we will manage our financial arrangements in a manner that, potentially, will help to soften the blow of our death for our loved ones. [23:31]Next week’s episode will focus on dealing with financial matters related to accident and/or illness that can affect families. [23:55]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the fourth episode of this ‘Family Matters’ season, Simon and Bex discuss various financial matters that can arise from our interactions with members of our wider family.Some key points of interest covered in this episode include the following:Simon and Bex introduce the episode by explaining what they mean by ‘wider family’ [00:50] before going on to explain how their own circumstances have influenced their thoughts on the extent to which they might feel prompted, or not, to engage financially with members of their respective wider families. [02:46] and [03:34]A sensible starting point, as so often with financial planning, is to know the nature and extent of your own resources. [04:05]It can also be sensible and helpful to try to establish some kind of appropriate ‘hierarchy of needs’ when thinking about our wider family relationships, but a great deal of openness, honesty and thoughtfulness is likely to be necessary to achieve that outcome. [05:02] It can, however, be well worth going through that process if it leads to money being used as a tool for the benefit of others. [06:33]Another approach that can be useful when trying to decide how generous we can afford to be to wider family is to establish criteria and responses that can assist with the decision-making process – these could include, for example, the option of giving time, skills or practical support rather than money. [08:08]In response to a question from Bex, Simon shares some suggestions about how to communicate honestly, clearly and well in wider family contexts that can often be emotionally charged as a result of money being the subject under discussion. [12:02]Simon also draws attention to third parties which can provide financial assistance, information, advice and support: the Government (national and local), charities and the local church. [16:21]In his concluding remarks, Simon encourages us to be alert to the needs of those who do not have family or wider family available to support them. [19:55]The next episode, which will be published after a short mid-season break, will focus on dealing with death-related financial matters that can affect families. [22:13]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the third episode of this ‘Family Matters’ season, Simon and Bex discuss various financial matters that can arise from the interactions that we have with our parents, especially later on in life.Some key points of interest covered in this episode include the following:Simon and Bex start off by talking about the importance of establishing an updated, shared understanding when adult children and their parents discuss money matters. Pete Scazzero’s ‘Emotionally Healthy’ resources are very helpful in this respect, and our own season on ‘Talking About Money’ may also be of interest. [02:17]It can be helpful for an adult child to consider how best to broach the topic of money with a parent as it can be an emotive subject, and the motivation for raising it can sometimes be called into question. For their part, parents can often make the situation easier if they are willing to take the initiative and introduce a conversation on a money theme. [03:38]The principle of honouring and respecting our parents is crucial to this whole area, with the most desirable outcome being an ability to tackle issues collaboratively rather than combatively. [06:38]It can be a complete nightmare if financial affairs are not left in order, so Simon suggests ways in which the necessary conversations and subsequent action points can be implemented in a timely and appropriate manner. [08:36]In response to a question from Bex, Simon talks about the importance of sharing relevant information with at least one other person if others are going to be affected practically and financially by your death. [11:03]For those wishing to find out more about legal matters such as wills and power of attorney, Bex draws attention to the input given by Fiona Clarke, a private client solicitor, when she appeared on Season 3 Bonus Episode 2 of the podcast. [12:27]When it comes to the question of whether we have a definite responsibility to support our parents in financial matters, Simon suggests that the starting point should be to have an honest and open conversation about the situation and then see where that leads. [12:46]Similarly, timely and thoughtful conversations with other family members are often required, for example when issues arise of how best to care for and support parents when they are ill or can no longer live independently. [15:47]Simon then shares some thoughts on possible care scenarios, with Age UK being mentioned as a possible source of helpful information and advice. [18:21]Bex and Simon conclude the episode by reiterating the importance of taking opportunities to have financial conversations with family members, not least because the sooner those chances are taken the more likely it is that there will be positive outcomes. [22:26]Next week’s episode will expand the conversation to include financial matters that affect the wider family. [23:34]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the second episode of this ‘Family Matters’ season, Simon and Bex discuss various financial matters that arise in connection with having children.Some key points of interest covered in this episode include the following:When asked how much money people need to have in order to be able to afford to have children, Simon suggests that couples should fully discuss the matter but should not make it a financial decision. [01:17]On the topic of what do children need to know about money, Simon notes that it is a complex area and that it is hard to prepare children for what their ‘real world’ use of money is going to be like. Approaches that are likely to be helpful include talking openly about money and the reasons for the financial decisions that we make, including in connection with our giving. [03:32] Modelling certain behaviour – eg giving to the church – can also have a significant impact, as Bex observes. [05:39]Simon comments that it is becoming more complex and challenging for young people to become financially knowledgeable, adept and independent, with the result that practical and emotional support from parents has become more important than ever. [06:27]Some tips and tricks from Simon for educating children financially include getting them to save for items or to pay instalments to parents for special purchases, as well as briefing them on payment options such as interest free loans, buy now pay later, and credit cards. [08:18]As far as specific accounts for children are concerned, the disadvantage of Junior ISAs is that they can give an 18-year-old unfettered access to a significant amount of money, which may not always be helpful or wise. Parents can, however, use their own ISAs to build up savings for a child in a more controlled manner. Current accounts for children can get them used to managing their own money while prepayment cards, in particular, can provide them with useful hands-on experience of making their own purchases. [09:41]Simon talks through the pros and cons of taking on debt through loans, with a particular focus on student loans. [11:47]Simon explains some of the factors that need to be taken into account when parents are considering assisting children financially with the purchase of a property. [14:58]Other factors worth considering when parents are thinking about giving money to their children include tax efficiency, fairness/equality and clear communication with all relevant parties. [17:40]Simon offers some thoughts for parents on the tricky issue of how to deal financially with a child who is making contrary lifestyle choices. [20:03]When asked what end of life, financial preparations parents can make that will be helpful to their children, Simon emphasises the benefits of simplification and good communication. [22:08]Bex draws attention to Season 4 of the podcast as a useful resource for anyone looking for tips and practical suggestions about having conversations about money. [24:25]The focus of next week’s episode will be on financial issues that have particular relevance for parents. [24:55]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the first episode of this ‘Family Matters’ season, Simon and Bex discuss various financial matters that have particular relevance and significance for spouses and romantic partners who are in committed, long-term relationships.Some key points of interest covered in this episode include the following:Simon and Bex introduce the new season and draw particular attention to the interplay between finances and relationships that will run through it. [00:33]Opening up the topic of financial matters relating to spouses and long-term romantic partners, Simon outlines his reasons for recommending that people in those kinds of relationships should combine their finances. [03:03]Key elements that are vital to merging finances successfully include good communication, openness, an appreciation that people take different approaches to dealing with money and good budgeting practices. [05:57]Bex mentions that CAP (Christians Against Poverty) run excellent budgeting courses for individuals or couples looking to acquire skills in that area. [11:00]Speaking about our relationship with money, Simon notes that ‘our heart’ can often help us discern how much is appropriate to spend in a particular circumstance. In addition, ‘practice’, experience and welcoming input from others can all help us to make thoughtful and appropriate adjustments to our spending habits. [12:58]There are elements, such as pensions and ISAs, that have to be apportioned individually, but Simon suggests that a key principle should be to approach family finances holistically. [14:46] And in that context, the focus and aim should not be on the material goal of maximising household income but on the family priority of maximising household value. [16:18]Planning, preparation and, most of all, communication are vital elements to include when looking ahead to the potential financial implications of the death of a partner or spouse. [19:01]In his closing comments, Simon suggests that the allocation of ‘pocket money’ can be a really helpful way of introducing flexibility, individual discretion, trust and clear expectations into shared financial arrangements. [20:16]Next week’s episode will focus on managing our finances with children in the mix. [23:12]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the second bonus episode of this ‘Good with Money’ season, Stew Denholm, Relationship Manager at Bank of Scotland, speaks in a personal capacity about banks, their role in our lives and the ethical principles that underpin best banking practice.Some key points of interest covered in this episode include the following:Stew introduces himself and talks about his Christian upbringing. [01:13]Stew then goes on to describe how he became involved in the banking sector. [03:43]In response to a question from Simon, Stew explains the nature of his role, working on financial projects with healthcare professionals. [06:19]Simon’s follow-up question is about the requirement for a bank to make a profit, prompting Stew to explain how a strong ethical approach can be entirely consistent with that goal. [08:26]Stew then provides some comments, in response to a question from Bex, outlining some steps to take in order to ensure that any loan undertaken is appropriate and manageable. [10:35]When asked about the attitudes displayed by those requesting loans, Stew highlights the benefits of deliberately seeking out advice rather than assuming that current knowledge will be sufficient. [12:37]As far as expressing his faith in the workplace is concerned, Stew emphasises the importance of consistently demonstrating integrity and honesty, especially when the awkward moments and difficult conversations come along. [14:29]Stew acknowledges that there has been a stereotypical image of banks dealing very formally with customers, but his experience and practice is that banks now make it their top priority to be client focused and to deliver really high quality services. [16:09]When given the opportunity to share some final thoughts, Stew talks passionately about stewardship and generosity being two key principles that are the hallmarks of how he aspires to use the money with which he has been entrusted by the Lord. [17:56]The focus of Season 12 of the podcast will be on financial issues around ‘family matters’, with the first episode dropping on 28 January 2026. [21:09]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting.You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the first bonus episode of this ‘Good with Money’ season, Caralyn Nolan, a former Insolvency Accountant, shares thoughts about the issues created by out of control debts and some ways of dealing with the difficult situations that they create.Some key points of interest covered in this episode include the following:Caralyn introduces herself, speaks about how she became a Christian and explains how her involvement in the insolvency profession came about. [01:19]Next, Carolyn describes the nature of the role that she fulfilled and the importance of being thorough but also sensitive when carrying out required tasks. [04:19]When asked about the factors that can lead to people finding themselves in significant debt, Caralyn explains that these can be wide-ranging and that situations can spiral downwards very quickly if they are not addressed directly. [07:13]Caralyn talks about the impact on individuals and those around them of a formal debt-related process, highlighting that the consequences can often be particularly unexpected and distressing for family members and employees. [11:20]In response to a question from Simon, Caralyn explains the circumstances under which bankruptcy might be viewed as an expedient, or even an appropriate and helpful, course of action. [13:36]Caralyn emphasises the importance of honestly acknowledging debt problems when they arise and of communicating promptly and well when seeking assistance to deal with them. [15:43]Certainly, the earlier that formal debt support activities, from the likes of Christians Against Poverty (CAP), can be triggered the better. [17:51]When asked about approaches that can lead to faith and finance interacting well, Caralyn referred to 2 Peter 1.5-8: “For this very reason, make every effort to add to your faith goodness; and to goodness, knowledge; and to knowledge, self-control; and to self-control, perseverance; and to perseverance, godliness; and to godliness, mutual affection; and to mutual affection, love. For if you possess these qualities in increasing measure, they will keep you from being ineffective and unproductive in your knowledge of our Lord Jesus Christ.” The development of such qualities, Caralyn suggests, will result in a greatly increased likelihood of managing our money well and responsibly. [18:23]Jesus' parable of the tower builder in Luke 14.28-30 is also helpfully pragmatic in the context of taking on risk, and business risk in particular. [19:41]When asked for her thoughts on living lives characterised by integrity, Caralyn suggests that intimacy with Jesus is a key element, mentioning John Mark Comer’s ‘Practicing the Way’ as a resource that she has found very helpful. [20:52]When drawing her comments to a close, and prompted by some reflections that had featured in Lectio365 that morning, Caralyn quoted from Isaiah 35.3-4: “Strengthen the feeble hands, steady the knees that give way; say to those with fearful hearts, Be strong, do not fear; your God will come”. It is not easy to take advice, but having the courage to step up and be open about issues will go a long way to addressing any difficult situation in which we find ourselves. [22:40]For anyone concerned about debt problems, Christians against Poverty and Citizens Advice provide really helpful free advice. [24:02]A further bonus episode with a special guest will be published on 14 January 2026. [25:16]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the final episode of this ‘Good with Money’ season, Simon and Bex discuss how we can ‘be good with money’ and ‘do good with money’ when dealing with various family-related financial topics.Some key points of interest covered in this episode include the following:Bex and Simon explain that their aim in this episode is to provide an overview of family-related matters which can pose challenges for us as we endeavour to use our money wisely and responsibly in such contexts. Because so many such situations of this nature have been identified, this theme will form the basis of the next season (Season 12) of the podcast. [00:33]The first topic to be mentioned is the challenge for single people of working out individually how to develop relevant and appropriate money management habits. [01:52]Those who are on the point of getting married / committing themselves to a future with another person have particular points to consider, including how best to share and combine finances. [02:58] The importance of money for those who do get married is highlighted by the fact that statistics suggest that finances are a major factor in most marriages that break down. [03:58]Having children inevitably has many money-related consequences which, ideally, would be discussed in advance. [05:01]Being a positive role model for our children in the way that we view money and use it is another important challenge to take on. [05:53]Another major area of focus is likely to be the relationship that we have with our parents and how finances feature within that, not least because levels of dependency can change so significantly over time. [06:49]Caring for others within a family context can often have significant implications on the resources that we have, including our time and money. [09:26]In some contexts, intergenerational family planning can be very worthwhile but it needs to be handled carefully and appropriately. [12:56]While acknowledging that it can be a difficult topic to address, Simon highlights the benefits of making appropriate and detailed end of life arrangements to cover personal, practical and financial matters. [15:31]In response to a question from Bex, Simon talks about the financial elements that can arise in connection with divorce or separation. One option that aims to create a constructive environment for decision-making in such circumstances is the possibility of involving collaborative lawyers, who will endeavour to find outcomes that are acceptable to both parties. There are also collaborative financial planners who can support that type of process as well. [18:00]Simon and Bex warmly invite listeners to send in comments, thoughts and questions that will help to frame our next season, during which the topics touched upon in this episode will be discussed further. [22:05]A couple of bonus episodes will be published over the next few weeks, and then Season 12 will launch at the end of January. [22:41]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In Episode 7 of this ‘Good with Money’ season, Simon and Bex discuss the different kinds of ‘Insurance’ that are available and what our attitude to them should be.Some key points of interest covered in this episode include the following:When providing an overview of types of insurance [01:14], Simon begins with car insurance because it is widely familiar to people as a result of it being a legal requirement for driving in the UK. [01:44]Home insurance is also very common and offers a range of options, depending on an individual’s circumstances. [03:39]The extent to which someone requires life insurance is also determined by circumstances, including whether or not anyone else is financially dependent on that person. [05:10]When it comes to health insurance, there are four main types: critical illness insurance [08:13]; income protection [09:20]; accident, sickness and unemployment insurance [10:41]; and private medical insurance [11:23].In response to a question from Bex, Simon talks about the contexts in which pet insurance might be considered. [12:11]The final main type of insurance is holiday insurance. [13:46]Bex explains how ’excess’ payments work and how they can reduce the premium paid when buying insurance. [15:10]Simon explains the concept of ‘group risk’, which underpins the insurance system. [17:07]Simon shares some thoughts on how we might decide whether or not we need insurance in particular instances. On some occasions, for example, it may be more cost effective for us to ‘self-insure’. [19:12]When asked what the ‘Christian’ response to this topic should be, Simon suggests that, if we can afford it, insurance can be an effective way of helping us to avoid unmanageable crises and to steward our resources well. [21:54]In the final episode of this season, the focus will be on financial issues around ‘family matters’, which will lead on to further coverage of that theme in Season 12. [25:17]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In Episode 6 of this ‘Good with Money’ season, Simon and Bex discuss how we should navigate the issue of debt on our money journey.Some key points of interest covered in this episode include the following:Simon starts off by explaining why debt is a relevant and important topic for all of us. [00:33]Simon talks about ‘good debt’ and ‘bad debt’, highlighting the importance of being able to distinguish between our ‘needs’ and our ‘wants’. [03:29]Another important skill is to be able to discern between ‘manageable debt’ and ‘unmanageable debt’, and to organise our financial affairs accordingly. [05:43]When reviewing what the Bible says about debt, Bex and Simon comment on the following verses: Romans 13.7-8, ‘Give to everyone what you owe them: if you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honour, then honour. Let no debt remain outstanding, except the continuing debt to love one another.’; Matthew 5.42, ‘Give to the one who asks you, and do not turn away from the one who wants to borrow from you.’; Matthew 6.12, ‘And forgive us our debts, as we also have forgiven our debtors.’; Proverbs 22.7, ‘The rich rule over the poor, and the borrower is slave to the lender.’ [08:16]Simon explores the various ways that we can get into debt and highlights behaviours (including distinguishing between ‘needs’ and ‘wants’ and talking to others about our spending habits) that can help us to steer away from unmanageable debt. [11:30]Setting our own expectations for expenditure or articulating our budgetary boundaries to others (eg through ‘loud budgeting’) can also be helpful ways of putting sensible limits on what we spend. [16:59] Bex draws attention to previous podcast topics dealing with this area: Season 8 Ep9: Top 10 Money Tips for Teenagers with Dave Hall, Youth Pastor (‘loud budgeting’ at 25 mins 26 secs); Season 4: Talking About Money; and Season 2 Bonus Episode 2: Press 'Reset' on Some of our Major Expenses. [18:05]In response to a question from Bex, Simon explains how the concept of delayed gratification – deliberately waiting until costs have been covered before enjoying something – can help us not only to spend within our means but also to gain pleasure from the anticipation of looking forward to something that has been paid for. [18:42]In his closing comments, Simon speaks about how we can be good with money and do good with money when dealing with the topic of debt. [21:10] He also mentions ‘Christians Against Poverty’ and ‘Citizens Advice Scotland’ as two highly respected organisations that can provide assistance to individuals struggling with unmanageable debt. [22:18]Wrapping up the episode, Bex draws attention to previous podcast episodes about ‘Debt’. In particular, the content covered in Episodes 6 and 7 of Season 1 and Season 7 Episode 3 could provide some additional useful listening material. [24:21]Next week’s episode will focus on the topic of ‘Insurance’.Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In Episode 5 of this ‘Good with Money’ season, Simon and Bex discuss what our attitude towards taxes should be.Some key points of interest covered in this episode include the following:Simon introduces the topic of taxes by quoting from the UK Parliament’s introduction to taxes on its website. [01:44] He then makes mention of Tax Freedom Day to illustrate the extent, variety and significance of our tax system. [03:36]When it comes to our attitude towards taxes, Simon and Bex note the importance of recognising how much we as individuals, and also society as a whole, benefit from the UK’s taxation arrangements. [05:04]For its part, the Government has made a priority of explaining how taxes are used, with HMRC publishing detailed information about the expenditure that has been made possible through taxation. [06:55]Simon suggests that the ‘right’ amount of tax to pay should be based on honest and accurate personal financial information, combined with any valid reductions that can be applied for specific, recognised purposes. [08:24]To illustrate the challenge that the Government faces in trying to make the tax system efficient and effective, Simon talks about the Laffer Curve, explaining that it shows how individuals and businesses alter their behaviour in response to changing tax rates. [09:49]References to tax in the Bible include the following: Jesus saying that we should give to Caesar what is Caesar’s and give to God what is God’s (Matthew 22.15-22); Jesus providing a coin from a fish to pay the temple tax (Matthew 17.24-27); and Paul saying that it is right to pay taxes (Romans 13.6-7). [12:20]Simon explains the difference between tax evasion and tax avoidance: the former means that the right amount of tax is not being paid, which is illegal; the latter is sanctioned, and indeed promoted, by the Government in order to prompt people to participate in specific schemes (eg investing in their pensions) that - over the long term - will produce better outcomes for the government, for society and for the individual. [17:59]Simon suggests that our default position should be to obey the law by paying the taxes that we owe. If we are unhappy about the amount of tax that we can pay, we can look into allowable, practical ways of improving our individual circumstances, and we can also engage with the politics of the situation by lobbying for change. [20:18]In Simon’s concluding remarks, he encourages us to be deliberate, thoughtful and prayerful in this area while also seeking practical advice, as appropriate. [21:59]Next week’s episode will explore the very important topic of ‘Debt’. [23:37]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the fourth episode of this ‘Good with Money’ season, Simon and Bex talk about the key role that pensions can play in assisting us to manage our money well, right through to the end of our lives.Some key points of interest covered in this episode include the following:Simon explains why pensions can be so important to our attempts to be good with money throughout our lives [00:51] despite the fact that, as Bex points out, it is now being reported that a significant number of working age adults are currently not paying into a private or workplace pension. [02:42]Simon outlines what a pension is [04:18] and then goes on to describe different types of pension, including the state pension, the defined benefit workplace pension, the Career Average Revalued Earnings pension and personal pensions. [06:17]Drawing on her own experience, Bex notes that personal pension providers have become adept at simplifying and streamlining pension arrangements for their customers. [09:18]In response to questions from Bex, Simon talks about the different factors that can influence our pension-related behaviour ranging from being in our 20s (when any pension contributions can ultimately yield a high return) [12:39], then progressing into the very busy and expensive middle stage of life [15:50], and finally into the pre-retirement phase. [19:33]For some people, the pre-retirement period can be a helpful time to seek professional financial advice. [20:14] Among the options that can be worth considering at this time are exploring the possibility of phased, or even ‘multiple’, retirements [22:05] and proactively planning the detail of what we would like our retirement to look like. [23:29]Concluding his comments, Simon stresses the importance of having a realistic and effective plan to manage money throughout retirement, for however long that may last [24:17]. He also notes the invaluable benefits, to family members in particular, of being organised and communicating well when it comes to putting our affairs in order in preparation for the end of life. [25:56]After a week’s break, our next ‘Good with Money’ episode will be on the theme of ‘Taxes’. [27:13]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the third episode of this ‘Good with Money’ season, Simon and Bex talk about when and why ‘Investing’ may be worth considering in the context of our personal finances.Some key points of interest covered in this episode include the following:Simon starts off by explaining the two core elements of investing: to counteract the effects of inflation [04:48]; and to achieve an expected return, very often for a specific purpose. [06:14]Simon talks about the different kinds of ‘bonds’ (including premium bonds, bank bonds and corporate bonds) that can be used for investing. [08:23]In response to a question from Bex, Simon explains that activities such as acquiring gold, buying currency and day trading do not have an expected return and should not therefore be classified as ‘investing’ in the pure sense of the term. [11:05]Simon uses a story about the respective business needs of a farmer and a baker to illustrate how hedge fund traders can attempt to take advantage of the commodities market. [14:24]Property is another interesting area – unlike many other investments, it is generally not a passive income stream; instead, it requires active management and involvement from those wishing to make a profit from investing in that area. [16:06]Simon then goes on to address the issue of whether investing should be regarded as a form of gambling, with the key point being the presence, or not, of an expected return. [17:18]Quoting from Luke 12.16-21, Mark 10.17-21 and 1 Timothy 6.10, Bex and Simon highlight the importance of resisting the temptation to make money a goal in its own right when engaged in investing activities. [19:40] For anyone interested in exploring how we can adopt a heavenly perspective and have pure motivation when working and earning money, Bex would recommend ‘The Garden City’ by John Mark Comer. [23:34]Concluding his comments, Simon emphasises the importance of investing in order to achieve a specific and appropriate purpose. [24:01]Next week’s episode will focus on the related topic of ‘Pensions’. [25:20]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the second episode of this ‘Good with Money’ season, Simon and Bex talk about the advantages of including ‘Saving’ as a core element of the way that we manage and use our personal finances.Some key points of interest covered in this episode include the following:Simon introduces this episode by explaining that saving allows us to control our money by moving it through time so that it is available when we need it. [01:44] He goes on to explain that saving is a means of putting money aside while the aim of investing is to generate a financial return from money that has been placed into some kind of venture with that purpose in mind. [02:37]In response to a question from Bex, Simon comments that, generally, saving should be our second priority (after giving) when organising and deploying our money. [03:55]When it comes to deciding on a desirable size for an emergency fund being created by saving, Simon suggests that the key consideration is to go for a proportionate amount or ratio that suits our particular circumstances. [06:03]When asked to pinpoint a key benefit of saving, Simon talks about the resilience that it gives to our financial journey, for example by cushioning the shock of a sudden spike in expenditure that happens annually for most people at Christmas and which otherwise could push us into debt. [08:13]However, a saving strategy can only protect us against known future expenses [12:09] if we are able and willing to use our emergency fund when the need arises. [13:59]Being flexible in how we respond to financial pressure points or competing demands on our resources can be assisted significantly by maintaining a God-focused perspective of, ‘It’s His money; what would He have me do with it? [15:24]Simon remarks that the need to save is likely to be less of a priority for those who are approaching retirement or who are already retired. [17:57]When wrapping up the episode, Simon comments that the next stage after saving is to consider investing. He also addresses the issue of whether or not we should attempt to save if we are in debt. Regarding that latter point, he mentions that a number of previous episodes of the podcast have focused on the issue of debt; for example, , Season 8 Episode 6 looks at ten top tips for dealing with debt. [19:46]Simon’s final, final, final observation is that John Wesley, in his ‘Use of Money’ sermon, encourages his congregation to earn, give and save as much as they can – notably, omitting any mention of ‘spending’ as a significant priority. [22:30]Next week’s episode will focus on the topic of ‘Investing’. [23:23]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6

In the first episode of this ‘Good with Money’ season, Simon and Bex talk about ways in which budgeting can help us get off to a great start if we want to be good with money and also to do good with our money.Some key points of interest covered in this episode include the following:Simon and Bex start off the show by announcing the three charities that will each receive £100 as part of the celebrations for the podcast’s 100th episode, aired on July 30th. [00:37]Bex and Simon explain that Season 11 is going to be about using our money well and not just managing it well. Topics covered in the eight core episodes of the season will comprise the following: budgeting, saving, investing, pensions, tax, debt, insurance and family matters. [02:22]Simon uses a couple of examples to support his comment that budgeting is a pervasive topic when dealing with money and is therefore a really good place to start when aspiring to be good with money. [06:22]The power of a budget is that it enables us to plan ahead and to decide how we are going to ensure that we give ‘every pound a purpose’. Equally important is the encouragement not to pay ourselves first, but instead to give to God first, as illustrated by Proverbs 3.9: ‘Honour the Lord with your wealth, with the first fruits of all you produce.’ [12:46]In response to a question from Bex, Simon gives an example of how ‘framing’ our priorities can help us to strike the right balance between what we allocate to current expenditure and what we earmark for the future. [14:16]Simon provides a broad-brush overview of Christian budgeting, starting off with Psalm 24.1 (‘The earth is the Lord's and everything in it’) to illustrate that we are stewards of any wealth we have, and going on to mention the importance of prioritising our giving and ensuring, also, that we live within our means. [17:43]When asked to identify some additional key principles, Simon highlights the following behaviours: use money as a tool rather than making it a goal in its own right; be aware of the danger of having a rigid attitude to budgeting that can inhibit our ability to be sensitive to prompts from God about how He wants us to use our money; be open about money matters with others and seek wisdom from them. [21:46]Listeners are warmly invited to share their thoughts and experiences related to budgeting. Next week’s episode will explore the topic of ‘Saving’ [24:07]Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. Our Instagram page will also provide you with additional content and features.This show has been brought to you by Free Range Podcasting. You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking here: https://where-your-treasure-is.kit.com/13c7b5fec6