Simple budget planning practices for families
I am a planner mom and enjoy various types of planning. It’s a passion and an essential practice to help me live an organized and productive life. This also includes budget planning. Budget planning has helped my family maintain a healthy relationship with our money and has helped us achieve a number of financial goals. In today’s post, I am sharing simple budget planning practices you can implement right away and experience some relief from financial stress.
I also tell my audience and clients that budgets should not feel restricting! In fact, having a plan for your money should feel very freeing. A budget helps you to create a plan for your income, expenses, and financial goals. Often, I hear budgets described as managing your income and expense. I believe, there is som much more to budgeting beyond simply your income-less expenses.
In order to be effective, our budgets should also account for our financial goals. If you follow this blog or my on social media, I am a huge advocate of planning life holistically. The same is true for financial management. Plan for everything!
Having a plan for your finances also reduces stress. Money management can be extremely stressful, therefore it is important to set goals, have a plan, and maintain a well-managed budget.
How to Create a Simple Budget
There are several ways that you can create a budget for your family. I manage our finance in two ways:
- Excel workbook
- Planner (Erin Condren Life Planner)
You can opt for different techniques or a combination of techniques. There are several apps available and online tools that can contribute to your successful financial stewardship.
Whatever technique you choose to leverage the key is to account for everything and manage everything. If you are someone who is working to improve your relationship with money, I encourage you to maintain a watchful eye and frequent review cadence of your funds.
In this video, I share a simple way to create a budget. It is a quick watch and I encourage you to subscribe to my channel for more budget planning videos.
More in-Depth Budget Planning Video
You can also check out this more in-depth budget planning video for tips and budget planning suggestions.