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6 Reasons You Need a Family Budget Today!

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If you ask yourself if your family needs a budget, the answer is yes, and you need a family budget. Every family should have a budget, in my opinion.

How can you control your finances if you don't have a budget to go by every month? One thing is clear that a budget is not a boring list of numbers that don't allow you to spend any more or have fun.

A budget is not for the wealthy or frugal people who enjoy saving money. A budget is for everyone, no matter the income.

Not having a family budget will deny you and your family enjoying life without stressing about finances.

Having your finances under control will allow you to have more and spend your money wisely. You deny your family from buying certain things because you can't afford it is a sign that you need a family budget today.

A budget will liberate you and allow you and your family to spend wisely without thinking it's not affordable.

Still, don't believe me that you don't need a family budget? Continue to read below and see if the tips given will help you understand otherwise.

Don't let pride tell you otherwise. Remember, people that have money have a budget. So get rid of that broke mindset and start thinking of you and your family's future.

“I can't afford it.”

Does this sound familiar? You want to go out at the end of the week and enjoy a nice night out with your family, but you are saying to yourself, “I can't afford it.”

This continues to happen not just once a month but continuously as your family is invited to events and outings but can't go because you can't afford it.

Yes, sometimes my budget forces me to say no to a few things, and it is not because I can't afford it. It is because my budget doesn't allow it right now.

But the reality is that when you look at your family budget, it will help you understand what exactly you can afford and can't afford.

“Where did my money go?”

Why is it that we feel that even when we get paid, we have no money left? So we ask ourselves, “where did my money go” because we have nothing to show.

Believe me; we've been there! We have spent money and money, and when we looked at our bank accounts, we couldn't tell you where the money went.

We had no way of tracking our spending, and we didn't have a plan for where we would spend it. So when we started our family budget, we realized we wasted money on eating out and other dumb things.

Your credit cards are never paid off.

Can we be honest here for a minute and talk about credit cards? Each month are you able to pay off your credit cards? I mean, do you use them every month and pay them at the end of the month to avoid credit card debt?

Are you drowning in credit card debt and only able to pay the minimum payment? Did you know that the average American household has a credit card balance averaging $6,913? Add mortgage debt to it, and the average household debt rises to $152,612.

If this is the situation you are in right now, then maybe it is time to start a family budget right away and start working on getting out of it.

Believe me when I say that paying one credit card to pay another one is the most stressful thing ever and one thing I will try to avoid ever again.

You don't have a savings account.

Do you save money? Do you have an emergency account where you keep funds in case of an emergency?

A saving account where you keep your emergency fund is essential. There is nothing you can't say that will say otherwise. No matter the income, you can save money, and this starts with creating a family budget that will prioritize saving.

I can go on about the benefit of having an emergency fund, but one of the most important is peace of mind! The thought that you have money allocated to help out when the unexpected happens is the best feeling in the world.

Having money saved helps to create less stress. You can handle a situation better without worrying about how much money this is going to cost you.

Creating a family budget that will help you start saving money will also help you eliminate debt because you will use money that is saved to help you pay for the unexpected such as car repairs, and not use credit cards instead.

You have no financial goals.

What are your plans for retirement? Are you planning on paying for college? What are your financial goals?

If you can't answer these questions, you need a family budget! So you see it is time to stop thinking about now and start thinking about your future.

Where does it say that you have to spend all your money today? The problem is that without a budget, you have not sat down and looked at your finances at all.

How much are you going to need for retirement? Do you have enough now saved? If you can't answer these questions, we need to start creating a family budget fast.

Never seem to have enough.

What exactly is plenty? How much more do you need? Is giving your kids everything the answer? Do you have enough?

We tend to want more and want more money because we think it will solve our financial issues, but the truth is that we don't have a budget. We don't realize we have enough.

A family budget will help you see that and help you make some strategies to cut back on your spending, and you will know that you and your family already have enough. Maybe too much!


After reading these reasons, I am sure that you will think and realize that you do need a family budget.

There are so many benefits of having a budget and will truly change you and your family's lives. Remember that a budget is for everyone, no matter how much or little money you make.

Don't let money dictate how you live you and your family lives, and start telling it where it needs to go. You control your finances!

Your turn: What other reason do you think people need a family budget today?

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  1. I think the biggest consequence of not having a budget is not being able to plan for the future.

  2. To stop arguments about money lol! I definitely need to start one but just the thought gives me the hives.

  3. We’ve gotten so much better over the past few years with our budget. Granted, some months are easier than others, lol.

  4. We have gotten lax about our budget lately and this really reminds me of why we have one to begin with! Back on track!

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