How to Make Budgeting a Family Project

Especially in a bad economy, setting a family budget and sticking to it can be a difficult and unpleasant task. Sometimes parents think that they are doing their children a favor by shielding them from the family budgeting process. However, children can be especially keen at noticing when the family's spending habits have changed. Once they notice this change, they can start to worry, especially if they are not told the reason for the family budget changes. A better idea is to involve the entire family so that you can work together as a team.

Call a Family Meeting
Although you don't need to share all the budget details with your children, you should at least call a family meeting so that you can provide everyone with an overview. Point out that you are trying to save money as a family, and if everyone works together, sticking to a budget should be easy. Setting a few goals for the family can be a great way of garnering some family enthusiasm for the budgeting process. You can also help create interest around saving money if you can relate the project to being good for the planet. For example, saving money by not spending it on new toys can seem like a hardship, until you point out how old toys usually end up in a landfill. If you can rally the kids around a cause they believe in, they will have a lot more enthusiasm for the project.

Give Everyone Tasks
Once you've explained the overall concept of why you are trying to devise a better budget, find a way for everyone to contribute. As a family, do some brainstorming to think up things that could save money. For example, you might decide that packing lunches is a great way to economize. Put somebody in charge of researching interesting recipes that the family can make and pack for lunch. Somebody else could be in charge of dividing up bulk foods into individual packages, which is more economical than purchasing specially packaged individual portions. If one member of your family is very detail-oriented and likes to work with numbers, put them in charge of keeping a spreadsheet that shows what you are saving.

Have Regular Progress Report Meetings
Once everyone is involved with saving money, you'll want to make sure to keep all family members informed as to how the effort is succeeding. There are a number of ways to do this, including having regularly scheduled family progress report meetings. You can also create fun graphs and charts that can be displayed around the house to show how individual or group efforts are paying off. For example, if you have decided to start a recycling program to add a bit of extra money to the budget, you can post a chart over the recycling bin so that family members can keep a tally each time they add an aluminum beverage can or other recyclable container. You could also devise awards and recognition ceremonies for family members who are doing an especially good job with the budget effort. By using these methods, you'll be able to save money, spend quality time together as a family, and teach children valuable budgeting skills at the same time.

Article Source: http://www.wahm-articles.com

Professional designer Jessica Ackerman, writes for WallDecorandHomeAccents.com, and specializes in decorating with contemporary wall artwork and trees wall sculptures.

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