A family budget reduces stress and gives family members a sense of teamwork for common goals.
Achieving those goals together makes the celebrations all the sweeter — retirement parties, weddings, graduation parties.
Want to get started? I can help.
First is a family meeting with me. We agree to the process
1. Find out where the money is going
2. Set goals and prioritize them
3. Decide what changes need to be made to reach the goals
4. Track progress
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Find out where the money is going
I can help with this. We can set up Quicken or Microsoft Money on your PC. Or we can use a paper ledger. Whatever gets the job done and is easiest for you. If you have a good online banking system, I can show you how to load checks automatically into your budgeting software.
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Set goals and prioritize them
This isn’t as hard as people think. This step is often the most rewarding because it helps all family members recognize what you’re working for. Once you see what’s really important, decisions become easier.
I have a few different techniques for sorting your goals. We’d pick the process best suited for your family.
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Decide what changes need to be made to reach the goals.
This is the hardest step. It can be difficult to accept changes are required. Negotiations are natural. Just remember that this might be the best opportunity ever to show your children how families negotiate peacefully, make sacrifices together, and save money.
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Track progress
Let me see your bookkeeping on occasion. Good software makes it easier, but even if it’s on paper or in Excel, at least we can track it and plan for the future accordingly.
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Want to get started? I only charge $100 for a one-day visit to help you set up your budgeting process. This is a good first step to starting a comprehensive financial plan.
