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:

1. 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]
2. 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]
3. 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]
4. 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]
5. 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]
6. Simon talks through the pros and cons of taking on debt through loans, with a particular focus on student loans. [11:47]
7. 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]
8. 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]
9. 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]
10. 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]
11. 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....

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:

1. 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]
2. 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]
3. 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]
4. Bex mentions that CAP (Christians Against Poverty) run excellent budgeting courses for individuals or couples looking to acquire skills in that area. [11:00]
5. 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]
6. 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]
7. 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]
8. 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]
9. 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 whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.

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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:

1. Stew introduces himself and talks about his Christian upbringing. [01:13]
2. Stew then goes on to describe how he became involved in the banking sector. [03:43]
3. In response to a question from Simon, Stew explains the nature of his role, working on financial projects with healthcare professionals. [06:19]
4. 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]
5. 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]
6. 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]
7. 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]
8. 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]
9. 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]
10. 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 whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.

Our Instagram page will also provide you with additional content and features.

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