WHAT IS THE PURPOSE OF HAVING A FAMILY BUDGET? I have been keeping a budget for the last decade, which has helped ensure my family and I stay on track with our finances.Įven if we have a period when our budget is squeezed, we can work our way around any issues and have always managed to avoid financial difficulties. It is one of the most important elements of admin that you can do for your family. WHAT IS A FAMILY BUDGET?Ī family budget is a plan for your money. Got it? Let’s now get it really clear what a budget is and the purpose of having a family budget. To recap the steps to successfully creating and keeping a budget: A budget is never set-it-and-go it needs to be actively managed. Lastly, you must ensure that keeping track of your family budget becomes a habit. The second step is to determine how you will keep track of your budget. The first step is to decide on the budgeting method that works best for you (top tip: keep it as simple as possible).
It all sounds so dull and difficult.īut the reality is that running a budget is actually very straightforward. I know from speaking to friends and extended family that the very mention of the word ‘budget’ can bring some people out in hives. YOU ARE NOW READY TO SET UP YOUR FIRST FAMILY BUDGETįirst up, let’s look at what a family budget actually is.GET YOUR WHOLE FAMILY ON BOARD WITH THE BUDGET.A QUICK SUMMARY OF THE FOUR DIFFERENT BUDGETING METHODS.THE MAIN BENEFITS OF HAVING A FAMILY BUDGET FOR YOUR HOUSEHOLD.WHAT IS THE PURPOSE OF HAVING A FAMILY BUDGET?.THE BEGINNERS GUIDE TO CREATING A FAMILY BUDGET.
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