Introduction to Family Budgeting by Homer Livez
There comes a time in every family where we have to evaluate our spending and start looking out for the future. Times are tough and if we're not careful, we'll go through our savings only to end up back at square one.
Perhaps you haven't yet been able to save and you feel as if developing a family budget is far too difficult. Well, as a working mother of five, I'm here to tell you that despite your expenses and the size of your family there are still ways to effectively budget, save money and make every dollar stretch further than ever before.
If you're struggling to make ends meet at the end of every month, or you are falling into ever-growing debt, now is the time to rework your finances so that you can improve your lifestyle and protect your family’s future. Regardless of your income, there are ways to cut corners and save money.
Keep in mind that developing a family budget doesn't mean that you can't occasionally splurge or that you need to restrict your family in any way. In fact, it's quite the opposite.
Your mindset will be to curb spending where it's not directly benefiting your family in the long run, and to stretch, invest and make better purchase decisions. In other words, it's about making your money go further - and work harder for you and your family.
Creating a budget will also help you identify "cash leaks" quickly, and in many cases, you may not even notice where a good portion of your money is going.
We all make "routine" purchases and just based on our lifestyle choices and habits alone, we can end up spending twice as much as we really have to.
For example, do you visit the grocery store more than three times a week to purchase meals and supplies for your family?
If so, cutting this down to one trip a week and getting everything you need at once will instantly reduce your spending.
Not only will you purchase only what you need, but you'll be able to design your shopping around current weekly specials, so that you are taking advantage of coupons and discounts.
Your budget can be as flexible as you're comfortable with as well, changing as you make more money, or as your family requires. This report was written to provide you with the ability to create a systematic process where you can easily start saving more money each month, and improving your family's lifestyle while protecting your future.