Sticking to any budget can be difficult. Sticking to a family budget can be a real pain. Trying to keep an entire group of people on track for spending and saving can be a tough job! Instead of driving yourself crazy trying to keep everyone in sync, try out these tips for sticking to your family budget. These tips and tricks can help you keep everyone on track and motivated to reach your financial goals! Getting everyone involved in the process can really take the pressure off of your shoulders and bring you all together as a family!

Budget | Money | Personal Finance | Family | Home

Plan as a Family

If you are going to run a family budget you may want to consider making the plan as a family! It is much easier to keep everyone focused on the goal when they have a part in setting up the goal. This can be as easy as a one-time “sit down” to map out what is important.  At the same time it is good to look at what needs to be cut. You could also hold extensive weekly meetings to reorganize priorities. You will have to consider the age of your family members when using this tip but even young children can play an active role in helping keep the family budget on track!

Put Purchases on Hold

Make sure everyone in the family knows what you mean when you say all purchases must be placed on hold. If an item is not in the budget for the month then it should be placed on hold. If in a matter of 30 days you are still interested in making that purchase you can go forward. This can help cut out TONS on impulse type purchases. Oftentimes things we purchase in the moment and it ends up being something we don’t love or use. If you take the extra time to wait, research, and think about your purchases you will be more likely to only purchase necessary and useful items!

Make a Goals Board

One great way to stick to your family budget is by using a goals board. If you and your family are saving for something specific it can help to take one Saturday afternoon and make a goals board. You can add extra photos around the house of that new car, vacation, sporting event, or concert that you all really want to attend. These visual reminders can help keep everyone on track and motivated towards sticking to the budget!

Final Tips to Sticking with a Budget

Determine Purchases by Hours Worked

This can be relevant for everyone in the family; instead of thinking in dollars, think in hours spent. If your children earn an allowance have them consider purchases in chores, odd jobs, etc. If you take the money out of it and make it about the time you have to put in to get something you will be more inclined to stick to your budget! Time is our most valuable commodity and if we are wasting it trying to get “things” that we don’t really love or need then we are wasting it. Wasted time can be a huge motivator for everyone in your family! There are always things we would rather be doing besides working!

Challenge Each Other

If you are a competitive bunch you might consider setting up a weekly challenge! The person who finds the way or ways to save the most money, or cut back on expenses, wins! You can choose the movie for an at home movie night. They could decide what the small entertainment budget goes towards that week! There are all kinds of ways to save money and skim expenses. The goal is to having your whole family working hard to find them can be a great help!

How do you stick to your family budget? Do you have any tried and true tips for sticking to family budgets?

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