Starting a family budget is a great way to teach kids the value of a dollar and a way to keep family finances healthy.
Having a way to track expenses for a large or small family is a "must do" in today's debt filled world.
We have become so debt-ridden that I believe our children begin to believe being in debt is "normal operating procedure." Speaking of debt problems, check out our page on ways to eliminate debt.
You need to get your hands on a family budget planner.
Sure, not everyone will be happy, but it is also a way to teach respect for others needs and wants. Stretch these lessons into creating a household budget worksheet that incorporates all your family and household expenses into an easy to read budgeting spreadsheet.
Your family will begin to realize the security and stability that comes from money management. Frankly, it is never fun to be the person that has to say "no" when your kid really wants something, but they will survive.
But, don't be a downer!
Unlike singular personal money management, families are made up of individuals with their own particular wants and needs.
Get Your kids involved in the process and lead by example. Above all, don't become stagnant or secretive with your budget plan. Let it grow and evolve into a family project.
Explore and take advantage of all the tools available to you online.
Create a family budget worksheet and post it on the fridge. Talk as a family about money and the door will open to talk about other topics.
Need cash for the movies? That conversation can lead to conversations about the friends in your childs life that might have escaped your attention before If you think you can't have fun on a budget....think again. link to stuff are possible on a budget.
More importantly, having no money left at the end of the month is a real drag. Make a financial plan for your family that includes "entertainment." A light at the end of the tunnel.
Working together makes the results much sweeter.
For more information and resources, please follow this link to our Household Budget Page.