Page 30 - How To Set Up a Family Budget The Easy Way

of the tunnel. There is a way out of the abyss.

10: Family budgeting can be used to teach you good fiscal habits: get in the habit of paying in

cash, using your credit cards only for emergencies.

Learn how to stop buying on impulse and use your willpower to walk away, say no thank you
and leave it at that. Shop at wholesale and discount department stores. Respect your budget

limits and stick to it. Buy generic medicine and support your discount pharmacy.

Always try to find ways to supplement your income, part-time jobs, your own business or rent a

room or floor in your house, offer storage, invest in real estate and take in a boarder or tenant.

Turn your thermostat way down in your house and turn off a few lights. Winterize your house
from top to bottom. Eliminate and treat areas where heat and energy is lost. Cut back on home

and cell phone use. Check insurance policies shop around and raise your deductible to lower
your monthly bill.

In isolation, these probably do not have a lot of impact individually, but when they are
combining in a well-planned, cleverly executed family budget, with discipline and consistency,
they will start to make a difference and you will start to see the benefits and impact on your
bottom line.

11: A family budget is a learning tool and process to empower individuals and families to better
self-manage their financial resources, spending, cost cutting and household finances. In general
You will be able to set-up your own personal or family budget.

By tackling the skill and mastery of smart budgeting, you will have a greater understanding
eventually of exactly where and by how much, you need to adjust expenses to either live
within your means or know how much extra you need to maintain your current lifestyle.

12: Other family budgeting process steps will require you to be able to identify and categorize
all your expenses and, coupled with an easy to set-up and follow filing system, create the

backdrop and framework for all future budgeting and fiscal planning at home or elsewhere.

13: Family budgeting is not something that is taught by parents or schools; however it is such a

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