We want each $1 you have is put to the best use possible to help you live your best life. There is a simple review process that you can commit to doing together.A critical step in personal finance is to create a budget. However the biggest family budget mistake is putting it together as step one.ĭon’t get me wrong. Create a monthly budget based upon our income rather than our values and priorities.Pull numbers out of the air based upon what we “ought” to be spending.Put a budget together without being fully committed.It’s because traditional budgeting techniques fail many couples because it is flawed from the get-go. If we know we should set a monthly budget, how come we just can’t seem to make it work? We need a system to make sure that every $1 spent matters to you so the rest can go toward building your wealth rather than to wasteful spending.įamily budgeting is the key to get there. Let’s start with the concept that every $1 you spend does not go to building your wealth. Ok, so how will you find that extra money? Without that extra money, our financial situation is stuck in the mud. Oh wait…we never seem to have any extra money left over at the end of the month to put towards these goals. These are great goals! Now…ready, set, go get them done! What financial goals do you want to achieve?ĭo you want to get rid of credit card debt, build an emergency fund, pay off student loans, save for retirement? There is no “perfect family budget” when you start.Step 4: 5 Minute Weekly Spending Review.Step 1: Identify your values & priorities as an individual, as a couple, and as a family.
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