Tag Archives: family budget

Major Family Choices that Cost Money

Some choices in life we make because we think they are necessary, others because we think we are doing the right thing, but often there is another way of looking at it. While the following major family choices shouldn’t be made solely on the basis of money, in each case, these decisions will have a significant impact on your financial future, maybe more than you might think. It is important to get tough and objective when you are faced with the following life situations, or at least be prepared for the incoming financial impact. Getting Divorced Divorce causes a lot … Continue reading →

10 Money Saving Ideas for Your Home

Spend less, save more, and make your house a home with the following ten money saving ideas. 1. Buy Less Most of us have more stuff than we need, and we continually add to it all of the time. Think about borrowing instead of purchasing, and evaluate what you really can’t live without in your home. You’ll save money and have a more peaceful environment. 2. Learn to Make Repairs A simple change of a washer will cost you just a couple of dollars if you do it yourself, but if you call a plumber, you will be given a … Continue reading →

How to Set up a Simple Family Budget that Will Stick

Setting up a family budget is one thing, but getting it to stick in the long-term is another. Building a budget is one of those things that many might compare to having a root canal done, but it doesn’t have to be that bad. You can set up a family budget that is simple, effective and will be around for the long-term. Make it Simple and Easy  You won’t use a budget if it isn’t easy to follow. You also won’t use it if it takes a lot to make changes. Start with a budgeting tool that you are already … Continue reading →

Kids Can Barter Too

“You mean I can trade chocolate cake for Lego Friends?” my daughter asked following our conversation about the benefits of bartering. “If you can find a Lego-loving chocoholic who’s willing to part with some of her sets, then you’re in business.” Little did I know that my response would turn my 8-year-old into the next Kyle MacDonald. Cash is tight for my third grader, but the kid makes up for her empty wallet by coming up with some solid bartering bargain chips. Or, in her case, cake. Bartering is not just for adults; rather, kids can get in on the … Continue reading →

The Spending Diet Game Plan

Lose the extra weight from your budget by putting your spending habits on a diet. At the end of the month, you’ll have extra money that you can use to pay off some outstanding debt, and your budget will be slim and trim. Keep it up for six months or more, and your budget will be healthier than it has ever been. When you diet to lose weight, you must burn more calories than you take in if you want to be successful. A spending diet is similar, although in this case, you must take in more money than you … Continue reading →

How Breaking Your Budget is Bad for Your Health

Here is another reason to stay on your budget. Breaking it can actually be bad for your health. Agonizing about how you are going to afford a new purchase can stay with you, even after you solve the problem. Researchers now say that our brains don’t like being in debt. Having fears about money affect our health long term. Whether we realize it or not, debt causes stress, and stress causes poor health. Stress and pain seem to register much more strongly than does pleasure. So, the next time you feel ready to break your budget, keep this in mind. … Continue reading →

Anticipating Expenses in Your Budget

When establishing a budget, it is important to account for variability. Some monthly expenses change a bit each month, such as your energy bills, others are paid bi-annually or annually instead of monthly, such as taxes, and some pop up unexpectedly. Others expenses may vary in their amounts each month. Knowing how to anticipate your expenses will leave you with a solid budget that is always in the black. First start with the stable expenses, those that do not change from month to month. Some examples might be your car payment, your mortgage payment, or a student loan. You can … Continue reading →

How to Fight About Money

Fight, you say?! Yes, it is true… all couples fight and all fight over money. Especially during the holidays, money is usually being tapped and emotional tensions are higher. This combination can make for some serious blow ups. Being able to discuss money is critical in all relationships. If you are a young couple starting out, look for clues as to how your date responds to money situations. As brutal as it sounds, if you are really on different pages early on… this relationship is not long term material. But really, this is not a blog on dating! It is … Continue reading →

Envelopes Budgets

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A friend of mine came up with this simple budgeting scheme and I just had to share. It is a perfectly easy way to plan your expenditures each month and ensure you stick to them. I call it an Envelopes Budget. The process is simple. Start by tracking your expenses each month to get an idea of where your money is going (this is good to do anyway!) Once you have a basic plan, put a budget into place. Start by creating large categories for each expense and an appropriate budget amount, examples would be: *Groceries *Entertainment *Utilities *Gas *Rent … Continue reading →

Save Money When Eating Out

Eating out can be a huge hit to any budget, but you can’t cook from scratch every night, right? It is fun to eat out. But, there are certain strategies you can use to save a lot, sometimes spending less than you would on groceries for a similar meal! Lately we have been eating out a lot. With our move to a new home and all that has entailed (no water for a few day, no refrigerator for a few more and then no power, heat or electricity when we were hit with a storm). We’ve try to do the … Continue reading →