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money
management
Tips
on making the budgeting process work
Work
together as a family. One
person can't do this alone (unless you're single). You will
need the help and support of all family members. One person
can't keep track of everyone's expenses. Each family member,
especially both parents, must be committed to the program.
As you begin the budgeting process, sit down with each member
of the family and explain what the objectives and goals are.
Maybe it's to save up for a family vacation or something.
Communicate the objectives openly with each family member.
Have
a family goal and reward; make it fun. Establish
savings / budgeting goals as a family and have rewards for
achieving the goals. Maybe it's a vacation, a trip to the
park, or a prize or a dinner out; make it motivating to each
member of the family.
Plan
and schedule evaluation times. This would be a
time each week and month to sit down as a family and record
expenses, evaluate progress, and set the following month's
budget.
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