How Do You Stick To A Family Budget?
The key to wealth is to spend less than you make, and to do that for a long time. One of the best ways to accomplish that goal is with a family budget. But that budget is only half the battle. Once you have a budget system in place, you have to stick to it. And that can be hard to do when several people in your household spend money. Plan your budget based on your pay periods. Paying all your bills at the same time isn’t the best option for everyone. When you detail your budget to include pay dates, you ensure that you have money in the account when the bill is due. Start using envelopes. Get cash and divide it up between envelopes. Each envelope represents a budget area, such as groceries. So, the cash you have allocated to spend on groceries would go in that envelope. It’s a great way to keep track of how much money you actually have. Respect your system. When the money is gone, it’s gone. You might be tempted to withdraw more cash from the ATM, but that defeats the entire purpose of
