Another year has gone by; perhaps you are thinking resolutions, not only for yourself but the family. You had some financial goals last year: paying down credit cards, adding funds to the retirement account or saving for a vacation; all of those good intentions went unfulfilled. Not only that but the family even lost some ground, there is less money in the bank account. Are you able to say what happened to the family budget and where all the money went?
Family Budget: Just How do we Spend our Money?
You do make plans, you had a plan for your education and you are still pressing on with your career plan; where would you be now with those? To meet your financial goals this year you require a spending plan or what is better known as a family budget.
Only with a family budget is it possible to track the growth of routine household expenses and control those mystery expenditures that are forgotten just as quickly as the card is swiped. Yes, a budget will allow you to make day-to-day purchasing decisions that are consistent with those financial resolutions.
Creating a Family Budget
There are two objections to crafting a budget: One is the dreaded sense of commitment and the other is the inflexible format of the budgeting software or old school paper products that are commercially available. We cannot help you with the first objection, you’re on your own there, but we can offer you a budgeting document that can easily be edited to serve the unique needs of your family’s lifestyle.
No one knows better than you how to set up a budget that suits your family, certainly not a software developer. The first step is the hardest, but do take time to download our spreadsheet and then identify those budget categories. It is downhill from there!