Guest Post : Tips for Setting Up a Family Budget

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For some families, a budget can be a challenge. If your family finds it hard to stick to a budget, don’t worry – there are many ways you can stretch your family budget and continue to enjoy a quality and fun lifestyle. Some techniques work for some families, and other might not. If one doesn’t work well, don’t give up. Try something new. Below are some strategies for creating a family budget that works!



Freezing Credit Cards

Most people would cringe at the thought of freezing their credit cards, but it’s a great step in the right direction. Freezing your credit cards in a block of water is simple to do and will keep you from using them so much. It’s far too easy to forget the real costs of things when you simply swipe a card. To stop this bad habit, freeze your credit cards and keep them in the freezer unless you are facing a true emergency and really need to use them.


Grocery Shopping

Most people think they don’t have the time for coupon cutting, but coupons can save you a fortune on groceries. Plan a menu for the following week, and clip coupons that you need to make those meals. Stock up on sale items and basic items you use a lot. Monitor your grocery bill to figure out what your average monthly costs are for groceries. Try to spend a little less each month. Take a large binder with clipped coupons to the grocery store every time you shop.

Think Crafty
Gift-giving occasions are much more than just for major holidays. If you have children, they probably get invited to plenty of birthday parties that require a gift. You never have to blow the family budget buying gifts for other people. Learn how to make some crafty homemade gifts – anything from special baked goods to candles, bath salts, homemade soap, homemade jewelry, photo albums and much more. There are a lot of low-cost gifts that you and the kids can make right at home. Add some pretty packaging to your gift to make it a lovely personal gift for someone special.



Using Cash

Pay for things with your hard-earned cash. When you pay cash, you stop and think about what you are buying. If you don’t like to carry cash around, take your debit card and use it. Make sure you keep up with your balance so you don’t overdraw your bank account.



Cutting Back

There are lots of ways to pinch the family budget without it hurting so bad. Take the time to sit down one day and call your cell phone provider, cable provider and home phone provider. Discuss any lower cost plans they might have to offer. Maybe you can cut a few pay channels from your cable television bill or switch to a lower cell phone plan. If you have a hot tub, consider only using it during certain months of the year, or only using A/C when it’s time for bed.



If you have trouble with your family budget, keep trying new ideas until you find one that works for you and your family. The goal is to create a budget that allows you to save money for the future while still having a good time with your family. Simply put, a good budget leads to financial freedom!


Jeremy Piley writes all about finance for families. His recent work is a piece titled “What Are The Cheapest Online Colleges and Degrees?

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