The do's and don't of a simple family budget
Here are some dos and don'ts of any simple family budget
Track Your Income
Make sure you keep track of all your income. Don't leave any money out. The only way to know for sure what you're actually spending is by knowing your exact income.
Make Sure Wants Don't Become Needs
We all have things we want. The trick with keeping any budget is making sure wants don't become needs. For example you may want those new shoes but do you really need them? Do they fit into your budget?
Three things to do before making any big purchase, stop, think, walk.
Stop, don't make an impulse buy you may regret later.
Think, do you really need this item or is it just some toy you will throw in a closet and not see again.
Walk, around the store and contemplate your purchase. Most of the time you will find yourself putting the item back on the shelf.
Be Sure to Leave Some Money for Fun
Everyone needs a little down time to unwind. This could be as inexpensive as watching a television show or going out to a movie. Or it could be as expensive as going on vacation. This is why you should always budget some money for fun and put a little away each paycheck for a vacation.
Don't Leave Any Family Members Out Of Your Budget
A simple family budget is just that, a family budget. Every member of your family must be willing to participate and make sacrifices. The best idea for getting the whole family on board is to have a family meeting where you lay out your budget. This is the time to listen to any complaints and explain the reasons for living within the budget.
Remember in order succeed everyone must understand the need to have a family budget.
Don't Give Into Any Pressures to Live Outside Your Budget
A budget is like a diet, as long as you stick to it you will have success. But give into one temptation and all your success is thrown out the window.
As you work within your budget there are going to be times when you will want to give into a temptation. Maybe you see something you really want, the latest giant flat screen TV, the new pool for the back yard or any number of things. Stop, don't do buy them. There will be time for those things later when your bills are paid off and you're in better financial shape.
I have seen many people on budgets who for one reason or another threw in the towel. I'm not going to sugar coat anything, family budgeting s hard but the rewards far outweigh the sacrifices. So if you find yourself ready to give up visualize yourself out of debt and with money in the bank. This might not stop you but at least it will give you something to think about before you give up.
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