8 Habits of Wise Women Managing Money with Miriam Neff

Episode 596

In Matthew 6:21, Jesus says, “For where your treasure is, there your heart will be also.”

That teaching is true for everyone, and yet men and women have different perspectives on money. So how do wise women manage the resources God entrusts to them? Miriam Neff is here to talk about that today.

Miriam Neff is the founder of Widow Connection, the author of 11 books, a counselor, a Bible teacher, and a speaker. She supports widows through sewing and bakery projects and is the co-author of Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More with her daughter. Her radio features New Beginnings and Starting Over Financially air nationwide.

Managing money wisely is a critical skill, and for many women, the responsibility of financial stewardship comes unexpectedly. Whether due to widowhood, divorce, or simply taking on a more active role in household finances, women today oversee 51% of the wealth in the United States, a figure that continues to grow.

However, with the right mindset and practical steps, women can confidently manage those resources. Here are eight key habits that wise women adopt to steward their finances well.

1. Acknowledge That All We Have Belongs to God

The foundation of wise money management begins with recognizing that everything we have is a gift from God. Whether it's a paycheck, a home, or an investment portfolio, God has entrusted our financial resources to us for stewardship.

Some may think of their 401(k) or IRA as ‘theirs,’ but biblically speaking, all of our resources—income, spending habits, even our possessions—belong to God. This means we must steward everything wisely, from the big decisions to the small ones.

2. Take Responsibility for Knowing Your Finances

Many women suddenly find themselves responsible for managing their finances after years of leaving it to a spouse or financial professional. Miriam emphasizes that understanding one's financial situation is crucial, whether through spreadsheets, budgeting apps, or simple pen and paper.

We cannot make excuses, such as “My parents never taught me this” or “My teenagers demand too much.” We are accountable to God for how we manage our resources.

Taking responsibility also means seeking help. Resources like Widow Connection, Faith & Finance, and local church financial ministries provide guidance and support.

3. Create a Spending Plan Based on Income and Values

The world encourages spending beyond our means—bigger houses, new cars, and credit card debt. However, wise financial management requires a spending plan that aligns with both our income and values.

Cultural messages tell us to spend first and hope our income will catch up. Biblically, we must prioritize contentment and stewardship. A budget is a tool to help us live within our means and honor God.

A values-based spending plan includes giving to God first, meeting needs before wants, and saving wisely.

4. Recognize That Every Spending Decision Is a Spiritual Decision

Larry Burkett famously said, “Every spending decision is a spiritual decision.” Where we allocate our money reflects our priorities and our hearts.

What do you check first thing in the morning—your bank account or social media? If we want to understand our hearts, we should examine our calendars and bank statements. They reveal our true priorities.

If our spending habits don’t align with our faith, it’s time to make changes, even if they start small.

5. Eliminate Excuses and Avoid Emotional Spending

Excuses can be a major roadblock to financial wisdom. Many justi