2nd step to set up your family budget

In this writing I will focus in on how to empower families to set up better, more realistic budgets, stick to them and celebrate their successes (and learn from their failures!)

Budgeting is seen as an accurate measurement of success when significant behavioral transformation is taking place on the landscape of the family budget, spending habits and financial patterns we observe over time.

Before I discuss further, I have to say that you have to write down your family budget.You must to stick to the written budget.No excuse.


The first step is admitting there’s a problem You may or may not have a spending problem – but you can’t create a family budget without first being honest with yourself

Today I will discuss the problem which most people have it The secret to why we can spend, spend, spend – and never know where the money went. Mostly, we think that we wisely spend our money on necessities like food and clothing, gas and household or family needs, but can rarely put a finger on where the money actually goes, let alone produce a budget!

A good place to start is to monitor these expenses.

Take stock of your fiscal situation. Start with assessing where exactly you are in your financial life and circumstance. Most of us think we know, but we really do not.

That is, until we take the time to actually list, study and analyze the situation. Figure out what your financial worth is, look at all financial goals, and set a timeline for reaching them. Does this sound like an action plan? Where do you start?

A good suggestion is your bank statements, tax return and recent current credit report – a financial asset statement if you will -and an overview of the current situation.

This is for today.Bye till tomorrow