In order to start a family budget, you have to know what you are spending monthly. There is a worksheet you can use or automatic programs available online. To stick to a budget, make a goal for the money saved. Change billing cycles so they aren’t all at once, watch your discretionary spending and have a buffer fir emergencies. Be sure that the whole family is involved, it will work better if everyone understands the goals to budgeting.

Key Takeaways:

  • Having a household budget and sticking to it are critical elements of keeping your family happy, healthy, and stress-free.
  • Get clear on what you’re currently spending. How much are you spending on your mortgage or rent, utilities, groceries, transportation, and so on?
  • Create a way of tracking your progress toward that goal. Track your discretionary funds, too, and include a buffer for unexpected expenses.

“Many people aren’t aware how much they spend on restaurants, movies, and other fun things – but those can add up over time.”