Newsletter

Money Management Tips for Blended Families

How to Navigate Financial Dynamics When Merging Two Families into One
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 12 January 2022

Money Management Tips for Blended Families

Preparing financially for marriage can always feel a bit challenging, and that can be an even bigger challenge for blended families, meaning families in which one or both spouses have been married before.

Today, about 40% of new marriages represent a second marriage for at least one spouse, meaning more people than ever before are facing the unique financial dynamics involved with blending two families into one. The money management tips for blended families below can help you navigate the hurdles you may face in your own blended family.

Three Financial Conversation Starters to Improve Your Relationship in the New Year

Resolve to Level-Up Your Finances and Your Relationship in 2022
Wednesday, 29 December 2021

Three Financial Conversation Starters to Improve Your Relationship in the New Year

Some of the most common New Year’s resolutions focus on the topics of love and money. Why not combine the two this year and resolve to have important financial conversations with your spouse or partner in order to strengthen both your relationship and your finances?

These discussions aren’t always easy, but they’re always worthwhile. Commit to making this important financial resolution and check out the three conversation starters for you and your significant other listed below.

Ask Your Aging Parents These Questions About Their Finances

Nine Topics that Can Provide You and Your Parents Peace of Mind
Wednesday, 15 December 2021

Ask Your Aging Parents These Questions About Their Finances

As your parents age, you may find yourself tackling new roles and responsibilities in your relationship with them. Perhaps you are helping them around the house, attending appointments with them, distributing their medication, or even managing their finances. In many ways, it may feel as if the parent-child role has inverted itself with you now in the position of caretaker.

Even if you are not yet in this position, you may be in the future as your parents grow older. Having a solid understanding of your parent's financial situation is critical if you are to ensure that they are going to be able to pay for their expenses and receive proper care in their later years.

Of course, this is no easy topic. Discussing finances can be tricky in any relationship – and it can be even more complicated as an adult child trying to broach the subject with your parents. Try using the nine questions below to cover the most critical aspects of your parent's finances, and you’ll be in a better position to provide care for them in the future, should you need to.

Five Generational Money Taboos You Should Ignore

Replace These Outdated Ideas About Money and Take Control of Your Finances
Wednesday, 17 November 2021

Five Generational Money Taboos You Should Ignore

For most of us, we inherit our money habits and develop our relationship with money from our parents. While a lot of us are raised to believe that talking about money is taboo, the reality is that it’s healthier to be open and upfront when discussing money topics. Avoiding conversations about money perpetuates financial illiteracy and provides an opportunity for bad money habits to take root.

There’s a lot that we can learn from our parents and it’s important to heed the lessons from those who came before us. However, there are some long-held beliefs about money that no longer hold in modern times, and believing them can lead to unnecessary financial hardships.

Read on for five generational money taboos that fail to hold water – and some mantras you can use to replace them.

ESG Investing is Growing - And Women Are the Reason Why

How Women Are Changing Investing for the Better
Monday, 08 November 2021

ESG Investing is Growing - And Women Are the Reason Why

The financial industry has long been dominated by men, but as more women enter the playing field, the very nature of investing is showing a marked shift. Over the past several years, interest in Environmental Social Governance (ESG) investing, also known as impact investing, has skyrocketed - and it’s largely due to women. When it comes to ESG, individuals invest in a business that is providing a benefit of some kind. For some companies, that could be combating climate change, addressing racial inequities, or improving access to education, among others.

According to an article from Bloomberg, ESG assets could reach $53 trillion by 2025. That would mean more than 33 percent of all global assets under management would be considered ESG assets. Women are sending a clear message with their investment choices. Building wealth is no longer the only goal; female investors also want to make an impact on the world around them.

When it comes to ESG, women are undeniably present in every aspect. They are running socially responsible businesses, investing in funds that reflect their values, and lending money to support causes in which they believe. Below, we’ll discuss four ways female investors are leading the ESG movement.

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