Use the following budgeting tips for families to help your family save money and move closer to its goals. Even when money is tight, it is possible for your family to enjoy a comfortable lifestyle with proper budgeting. Budgets make the difference between families that have a future of prosperity and those with a future of poverty.
Pay Yourself First. The first expense listed on the family budget should be called “our future. According to Robert T. Kiyosaki, author of “Rich Dad, Poor Dad”, this budgeting tip which is often omitted from household budgets, is a primary key to building financial security. Always save money for yourself first. Then proceed to pay the bills and other expenses.
Use Cash and Coupons. Families can save thousands of dollars a year using this budgeting tip. Savings coupons are like money in the bank. Not only will you save percentages off of products, but you will end up getting items free when using coupons during a sale. Using coupons can reduce the family grocery bill by 50% or more. In addition, use cash when shopping for food or other items; using credit and debit cards usually lead to exceeding the budget.
Eat At Home. Avoid eating out; learning to cook quality meals and eating at home will save your family more money than you could imagine. As a matter of fact, the biggest budgeting obstacles for many families is meals out. Daily lunches on the run, and dinners out every weekend is not a smart way to manage the family budget. Do the math and you will soon learn that the money spent on one dinner out for a family of four is equal to the cost of eating dinner at home for a week. Therefore, take your lunch and snacks to work, and eat dinner at home. This is a better option for your budget, and your health.
Purchase Used Toys. Families with young children spend way too much money on toys – toys that your children get bored with after a few days. When budgeting for your children, consider buying used toys from a consignment shop or thrift store. Besides, new toys are only new for one day. Some towns even have toy libraries that allow toys to be borrowed just like library books; check for listings in your area. Remember, budgeting and saving money is in the best interest of your family, including the children.
Forget Cable Television. This tip may not be popular, but it is necessary. Families need to set priorities when budgeting. Cable television is a luxury that does not need to be part of the family budget. Save the money towards something more worthwhile, like your children’s education. Watch regular television, read books, and borrow DVDs from the library. Does your family really spend that much time watching television?
Budget for the future of your family. “Everyday with every dollar you decide whether to be rich, poor, or middle class.” (Kiyosaki, 2000).
