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

In this bonus episode, Simon talks listeners through the HMRC tax return, highlighting some key points that they may find useful.

Various items covered in this episode that may be of particular interest include the following:

• Simon starts off by outlining the purpose and nature of the HMRC tax return, as well as explaining who needs to complete it on an annual basis. [01:19]
• Simon talks about the circumstances in which people might find it helpful to have professional input or assistance from the likes of a financial planner or an accountant. [08:01]
• Simon mentions the importance of good record keeping before going over the information that needs to be reported and the distinctions (eg between allowable and non-allowable expenses) that need to be made when completing a tax return. [09:41]
• Particular attention is drawn to the opportunity to report Gift Aid contributions because of the relevance of this option for those who give money to charities (including churches). [15:07]
• Simon then goes on to explain the dates by which tax returns and payments are required. [16:59]
• Simon speaks about payment matters, including what to do if you think that you won’t be able to pay the tax due or will be late in making a payment. [21:57]
• Simon explains how tax codes work. [26:45]
• Simon concludes by listing some top tips for anyone required to complete a tax self-assessment. His recommendations include the following: consult an accountant if you are finding the process challenging; put money aside for tax payments as the year goes on; be aware of the likelihood of needing to make payments ‘on account’; take advantage, if helpful to do so, of the flexibility available when allocating Gift Aid to a tax year; bear in mind that pension contributions can reduce tax payments; if relevant, carry forward a loss on an investment so that it can be used to offset tax in the future; use the HMRC app to help you to manage your tax information. [29:34]
• Season 5 of the ‘Where Your Treasure Is…’ podcast, on the theme of ‘Giving’, is coming soon. In the meantime, please use the contact details below to send in any questions that you have about the HMRC tax return that were not answered during this episode. [32:25]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

In this bonus episode, Bex interviews Simon about his own faith and finance journey, including the values and principles that have underpinned the creation and development of his business, Stewardship Wealth.

Some key points covered in this episode include the following:

• Simon describes an incident that triggered his appreciation of the power of generosity [01:38] and goes on to talk about various other factors that shaped his thinking about why we might want to cultivate the habit of giving some of our money away. [03:18]
• Prioritising giving money away and exploring what it means to give sacrificially were two themes that came to the fore for Simon when moving on from being a student to the world of paid employment. [06:00]
• Simon outlines the steps and experiences that led him to conclude that God was prompting him to start up his own business. [11:43]
• Simon identifies three key values [16:34] and six big goals [18:28] that he feels have been the hallmark of his business and have distinguished it from other financial planning companies.
• In response to a question from Bex, Simon provides some headline advice for anyone interested in following in his footsteps by setting up a generosity-inspired business venture of their own. [22:52]
• In his concluding remarks, Simon encourages each of us to make a priority of identifying the unique skills and abilities that God has given us and also the individual passions that He has put within our hearts. That will then provide a great platform for us to serve God’s purposes in an individually fulfilling and distinctive manner. [25:02]
• Next up will be a second bonus episode, explaining the intricacies of the HMRC Tax Return, which will then be followed by Season 5, on the theme of Giving, which will commence in early September. [27:25]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

Simon and Bex identify five common stumbling blocks to having great conversations about money and discuss ways of overcoming them.

Some key points of interest covered in this episode include the following:

• Stumbling block number one to having good conversations about money is failing to actually start the process! [01:48]
• The second barrier is that talking about money can have an emotional dimension that many people find difficult to handle. [05:23]
• Thirdly, if you find financial content difficult and don’t fully understand the issues, you are going to struggle to have good money conversations. [13:12]
• Similarly, if you are unclear about the objectives of a money conversation or don’t want to face up to what needs to be addressed, no progress is going to be made. [18:50]
• Finally, Bex and Simon highlight the importance of following up our conversations about money and revisiting them, as appropriate. [23:49]
• As this is the final episode of Season 4, Simon asks Bex whether or not the ‘Where Your Treasure Is…’ podcast is going to continue! [27:06]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

Simon and Bex discuss how an awareness of the future can have a positive influence on our conversations about money.

Some key points of interest covered in this episode include the following:

• Simon and Bex introduce the episode by talking about the individual goals that they feel that God has placed on their hearts and how important these are to them. [01:43]
• They then go on to discuss what contribution money can make to the efforts that we each make to fulfil our goals and what that might look like in practice. [04:52]
• Bex comments that each of us faces a challenge in trying to establish an appropriate balance between effective stewardship and living generously; Simon suggests that people are likely to respond to this issue in different ways, and what is most important is for each person to develop their own response through a process of hearing from God regarding what is right for them individually. [07:48]
• When it comes to putting into practice the personal principles that we have established, Simon suggests that, for much of the time, it can be a case of simply using the godly common sense, discernment and responsiveness that we each tend to develop over time if we are following the Lord sincerely and are interacting meaningfully with other Christians. [12:02] It is also noted, however, that it is very easy to over-commit or to end up being pulled in several different directions. For that reason, it can be very important to be rigorous and pragmatic in our decision-making processes. [15:05]
• Various suggestions are made about how we can start to respond practically to the challenge of managing our money effectively to support a long-term goal that God has put on our hearts. It is noted that, rather than being a solo undertaking, it can have all kinds of benefits to join with others in pursuit of such objectives. [18:45]
• Simon stresses the importance of taking action and getting started, even if that is at a very modest level or is in combination with others. [24:03] He also highlights the benefits of ensuring that we have conversations about money on an ongoing basis. [26:37]
• The final episode of the ‘Money Conversations’ season will consider how we can deal with the challenges that arise when we try to have conversations about money. [27:50]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

Simon and Bex discuss the importance of establishing – in the here and now – thoughtful, discerning and healthy priorities that will have a positive impact on our attitudes towards, and our use of, money in the future.

Some key points of interest covered in this episode include the following:

• Simon introduces the key elements of this week’s discussion: how should we shape our current attitudes, behaviours and emotions relating to money; and what can we do now to create better outcomes in the future? [01:18] It is suggested that a vital element in that process is to have conversations about money with someone whom you can trust and who seems to set a good example in the way that they deal with money matters. [02:47]
• When discussing money with a trusted individual, it is important to ask good questions but also to be clear about the nature of the relationship with the other person and the goals that you are hoping to achieve through those conversations. [06:17]
• Simon asks Bex what role church leaders can play in money conversations [08:57] and goes on to suggest ways in which we can benefit from input with a spiritual emphasis that they can provide. [11:24]
• In response to a question from Bex, Simon talks about ways in which conversations can be used to help us to determine priorities and to be discerning in our decision-making. A particular point of interest is what we can do to achieve an appropriate balance between being responsible stewards of our resources and having an attitude of faith that God will provide, even though the odds may be against that happening. [13:04]
• Establishing priorities and addressing current financial situations can really help our decision-making while also giving us confidence that we are making good and appropriate decisions. [18:44]
• Simon suggests some first steps that can be taken by anyone looking to start exercising the ‘muscle’ of faith and generosity. [22:12]
• Next week’s episode considers how our money can affect the future, and can even have an eternal impact. [24:53]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

Simon and Bex discuss the very significant influence that past conversations and experiences involving money can have upon us.

Some key points of interest covered in this episode include the following:

• Simon explains that the next three episodes will focus on how factors connected with the past, the present and the future can affect our attitudes towards, and our experiences of, money. In this episode, the spotlight will be on the way in which previous conversations and experiences involving money may have influenced the way in which we are currently dealing with financial matters. [00:36]
• Simon and Bex start off the discussion by identifying various people and factors that are likely to have played a role in shaping and influencing our view of money. [02:06]
• Attention then shifts to what kinds of attitudes might be developed in individuals through interaction with other people regarding money matters and also as a result of observing or experiencing situations in which money has been a key factor in determining an outcome. [05:32]
• Simon then makes some comments on how we can start to change the situation and move forward if we are not entirely happy with the relationship that we currently have with money. Gambling is used as an example of a topic that requires us to think through, and discuss, a subject ourselves in order to arrive at our own view of a matter. [10:15]
• The desirability of using a credit card is provided as another example to illustrate that there are money matters on which there is not a cut and dried, biblical point of view. [16:19]
• Simon highlights the importance of learning from mistakes and moving on our attitudes and opinions in a positive manner. [18:20]
• Simon suggests that the following practical steps can be taken to address issues that have been identified as being an unsatisfactory legacy from the past: (i) acknowledge that there is a problem [20:22]; (ii) speak to others and learn from a trusted friend who seems to handle money well [20:48]; (iii) put in the necessary hard graft eg by putting a budget in place [21:42]; (iv) if necessary, seek debt recovery advice from the likes of Christians Against Poverty [21:58].
• In response to a final question from Bex, Simon comments on steps that can be taken to deal with emotional hurt arising from previous money incidents or conversations. [22:45] He notes that in some cases, such as those involving divorce, the ramifications can be very significant and far-reaching. [25:02]
• The next episode in this season will explore how the decisions that we make about money in the present affect us not only just now but also in the future. [26:53]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

Simon and Bex discuss the many types of conversations that we can have about money and how we can get the most out of each of these.

Some key points of interest covered in this episode include the following:

• Simon introduces the episode by explaining that the focus is going to be on the range of people with whom we can have money conversations and the different contexts in which those discussions occur. He describes the situation as having many layers of financial interaction while Bex uses the analogy of each of us having various spheres of financial relationships around us, with which we engage to a greater or lesser extent. [00:34]
• The primary, and earliest, sphere of financial interaction for Bex had been with her parents. She and Simon discuss the potential for parent / child dynamics in this context to be very complex because of personal development factors and also as a result of the different phases of life and significant changes that occur in families over time. [04:02]
• Inevitably, conversations about money that occur with peers are quite different from those that occur with parents or anyone else with whom there are money-related ‘authority dynamics’ in play. Such conversations can, however, still include elements of accountability and taking advice. [08:54]
• Bex and Simon discuss the responsibilities and decision-making that come with being a budget holder, whether that be in a church or a business context. [10:47]
• When asked about other contexts in which she has money conversations, Bex comments that these can occur almost anywhere and, quite often, unexpectedly. Simon suggests that this shows that many people are looking for thoughtful and informed input on money matters and are quite likely to be interested in hearing our views if it is clear that we have considered issues seriously and are not afraid to admit that we don’t have all of the answers. [14:17]
• Simon goes on to talk about situations in which our voice can have a wider impact when, for instance, we provide input which enables money to be used for the good of the community. It is also noted that sharing our views on the principles that we apply when spending money - on clothes for example - can influence others and can contribute to a broader conversation taking place across society. [18:57]
• Bex extends the scope of ‘wider impact’ by asking Simon how we can engage meaningfully with opposing points of view while remaining true to our personal beliefs when having conversations about politics. [22:01]
• Bex wraps up the conversation by highlighting three points to reflect on: know what you think and why; your opinion matters; we have a challenge and an opportunity to share the light and hope that is at the heart of our Christian faith. [24:40]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

Simon and Bex identify and discuss various factors that can help us to have good conversations about money.

Some key points of interest covered in this episode include the following:

• Simon identifies four factors that can contribute significantly to the success of conversations about money: identifying purpose; recognising approaches that can be constructive; being clear about actions that need to be taken; reviewing the conversation. [01:12]
• When discussing possible purposes for having conversations about money, Simon suggests that these tend to fall into four main categories: to develop an understanding of money matters; to support attempts to achieve a future goal; to discuss ways of tackling a financial issue that has arisen; to find, as a matter of urgency, a way of dealing with a situation affecting personal finances that could become a major crisis for an individual. [01:56]
• It is then suggested that the key characteristics of a good conversation about money are as follows: they are based on godly, biblical principles [06:36]; they take emotional responses into account and are open and honest about them [08:33]; they are realistic [11:31]; they are conducted in a thoughtful and considerate manner. [14:12]
• Factors that can increase the chances of a money conversation being constructive and successful include the following: choose an appropriate time and place [18:01]; take advantage of natural opportunities to have free ranging conversations [19:13]; make sure that everyone has the ‘knowledge’ they need to participate meaningfully. [19:51]
• The following tips were mentioned in connection with the challenge of concluding money conversations well: reflect back what has been said so that there is a shared understanding of what has been discussed and (where appropriate) agreed, regarding actions to be taken [23:16]; revisit conversations as and when it is appropriate to do so. [23:58]
• It is acknowledged that money is an emotive subject and that most people struggle to talk about it. However, having those conversations can be a huge help, so Simon encourages listeners to ‘start small’ but to commit to opening up money as a subject for ongoing conversations. It is also very important, though, to deal with a situation immediately if crisis point has already been reached and, in such cases, the advice is to get immediate professional input and help from the likes of Christians Against Poverty and Citizens Advice. [25:52]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

In the second episode of our ‘Money Conversations’ season, Simon and Bex explore the importance of acknowledging that, from an early age, we are prone to having internal conversations about money that can then go on to influence our views on a whole range of topics. Identifying this tendency, and specific factors that have affected our attitudes, can help us to be discerning and balanced when we start discussing money matters with other people.

Some key points of interest covered in this episode include the following:

• Bex explains what she means by ‘internal conversations about money’ and why they are important. [00:42]
• In response to a question from Simon, Bex talks about how we can identify and then explore the many factors and experiences that can contribute to our internal dialogues about money and influence our long-term views and attitudes. [04:05]
• Bex comments on the benefits of increased self-awareness regarding our attitudes towards money and then asks Simon how much that matters: does the way that we deal with money have significance just in the here and now, or can it actually have consequences that are far reaching and highly significant? [12:43]
• Bex talks about being aware of her emotions when thinking and talking about money. She suggests that those feelings are often influenced by a narrative about money that has developed within her over time and that it can help her to make better decisions if she takes stock and reviews situations in light of those reactions. [17:33]
• Simon comments that, for a long while, he had adopted a logical, but rather limited, attitude towards money that had inhibited his ability to use money naturally and freely for his own needs, and also for the benefit of others. Conversations about money with his wife have helped Simon to progress from managing money in a rigorously functional manner to being more flexible and rounded in the way that he deals with financial matters. [19:06]
• Bex notes that as well as benefiting by receiving input from others, we can help to increase the likelihood of developing a godly perspective on money issues if we open ourselves up to the Holy Spirit. [21:38]

Suggestions or feedback arising from this episode can be sent via email to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast.

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 on this link.

In the first episode of our ‘Money Conversations’ season, Simon and Bex discuss some basic principles for having helpful, healthy, Spirit-led conversations about financial matters throughout our lives.

Some key points of interest covered in this episode include the following:

• Money is intrinsic to our lives – we deal with it all the time and in lots of different ways – so if we don’t learn how to talk about money matters (including the relevance of what the Bible says about money), we are likely to be storing up issues that we will have to deal with at a later point. [02:00]
• Simon emphasises the importance of normalising conversations about money because managing money badly - often caused by a simple lack of awareness or understanding - can lead to significant personal, practical and social problems while an informed, confident and appropriate attitude towards money can really help us to live life well. [05:03]
• In response to a question from Bex, Simon provides some thoughts on possible topics of conversation and how these can be opened up and then structured in a way that removes barriers rather than creating them. [08:17]
• Another question prompts Simon to talk about the various people with whom we might have conversations and the range of different contexts and circumstances that can affect the nature of these discussions. [12:53]
• Simon comments on various practical elements - such as location, timing and opening words – that can help or hinder conversations about money. He suggests that the success of such conversations should be measured according to the extent that they manage to serve the needs of both parties. [16:23]
• When making some concluding remarks, Simon observes that conversations about money tend to run through the key moments of our lives and that it can make a huge difference if we can cultivate a positive and open attitude towards having such conversations. [20:34]
• Listeners are warmly invited to take part in the collaborative conversation about money that we are hoping will take place throughout the course of this season of the podcast. Emails can be sent to [email protected] while messages via Instagram should be directed to @whereyourtreasureispodcast. In the first instance, contributions about memories of formative experiences involving money and comments about money-related topics that can be hard to broach would be particularly welcome. [22:56]

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 on this link.