Running Head: FAMILY FINANCES 1

Family Finances

Julia Gleason
BYU-Idaho
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Family Finances

Introductions

The first family first has a few children. They seemed to live in a costly area near Boston.

Their children loved extra-curricular costly activities. The second family lived in another area

that seemed costly. The father worked full time and the mother worked part time. They had

young children that probably weren’t into too many extra-circular activities yet.

Problems

The first family had a hard time talking about money at the beginning of their marriage.

They felt awkward doing so, so small things that they didn’t plan for started to add up. They

needed a budget. The children also wanted to activities that they didn’t think they could afford.

The second family had a mom who didn’t like spending and was raised in a hoke with little of it.

The father’s upbringing consisted of lots of spending. They fought over what to buy and how

much to spend. They then won a great deal of money, and the mom wanted to save it and the

father wanted to spend it. There was also a time when they when they made a very expensive car

purchase that was eating up their money, and they had to decide what to do.

Solving Issues

When the first family created a budget and started addressing it as a family, the stress

decreased. They asked, “how can we afford that” and worked on self-discipline and creativity to

help their kids. They taught their kids the importance of money and how to use it. The next

family eventually strengthened and complimented each other with their different spending habits
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and was able to talk through the issues. They figured out how to live in their budget and enrich

the family’s lives.

Strengths

The first family was very organized in their budgeting and communicating with each

other and their children. They knew what they could spend and what problems they needed to

address. The second family was very loving and supportive of the other person. The respected

each other and found ways to cope with problems and differences. They tried to enrich their

family time.

Applications

For the first family, I think I would be very hesitant to discuss money as well. I grew up

not talking a lot about money and if we could afford things or not. My parents always just said

yes or no to our wants. I would have a hard time not letting my kids do activities, because I know

they are so important…but I wouldn’t have thought of what they did…to create a budget and be

creative in finding ways to afford it. I am glad I got to see the example of a couple discussing a

budget and being thoughtful in spending as a unit. It was nice to see their financial intimacy. If I

was part of the second family, I would have been driven crazy by the husband. It would make me

anxious that he was spending all that money. It was also nice to see them compliment each other.

It was very helpful to see that money problems come from all walks of life, and discussing

money is not shameful, it’s crucial.

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References

BYU Broadcasting. (n.d.). Retrieved June 22, 2019, from

https://www.byutv.org/player/b3d966f0-c7374dd4-823d-882c42d919e6/real-families-

real-answers-family-finances