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Creating a family budget does not have to be stressful. Having a budget is important, but it doesn't have to be stressful. Also, showing your children how to budget money is a great tool they can practice as children and have a system in place for adulthood.Family Budget

I am the one that does the budget for our household, and I make sure to update our spending every single time we make a purchase. The reason for this is, we only get paid once a month. I created a very easy to follow family budget plan.

family budget

I have a sheet for every month in my binder. I simply write the date we spent money, what it was on, how much we spent, and what our balance is. The trick for this? Don't wait for the money to clear from your account! I deduct the money as soon as we spent it. This helps to prevent an overdraft on our bank account.

It can be hard to stay within a budget when you are running your own business as well. It can be done with careful planning and research. The most important tip is to make sure you have a great list of resources to choose from.

Although I'm a stickler for our family budget, I don't require my husband to get “permission” to spend money though.

We all know the set bills we have for the month. There are things like rent (if you don't own your own home or you may have a mortgage payment monthly), utilities, cell phone etc. When I am done figuring out the bills for the month, I then divide what is left. That then becomes our “fun money”. We both can spend our fun money any way we wish without discussing it with the other person.

We should all set aside money every month to put into savings for emergencies. I'll admit, I'm horrible at that. However, I do tend to end up with more money at the end of the month than my husband. Instead of putting that into savings, I roll it over to the next month for extra fun money.

While that sounds fun and it is, I should really think about putting it into savings to help with any debt. Life has a way of surprising us sometimes and expenses happen when we least expect them. Thankfully living in an apartment any repairs that need to be done, we do not have to pay for but there are other expenses that can come up for us.

Teaching children how to budget money is an important life lesson. This can help prepare them for adulthood and hopefully they would never become in debt. Money is a topic of discussion that can cause tension and fights with your loved ones as well. By knowing how to manage your money at a young age should help so you don't have to hire a debt reduction service hopefully.

One thing we should try to do with our money other than put money into savings is to invest a portion of our money.

Investing is tricky though. Where do we invest? How much to invest? Sometimes it helps to hire someone that has experience in the investment industry like Chase Rubin. Chase Rubin has served the financial industry for more than twenty years. He is currently sharing his knowledge and expertise regarding the investment industry to inform the general public.

How do you handle your family's budget? Do you save or invest? I'd love to hear your ideas. We are never too old to learn something new.

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