How You Can Create an Effective Family Budget
Commit to spend less than is earned; Tithing and savings should be the highest priority commitments.
Avoid convoluted software programs that want you to devote an entire weekend to categorizing, analyzing, and so on for the sake of creating the perfect budget. Perfectionism, when it comes to budgeting, is a huge waste of time. Reality has a funny way of sometimes not accommodating what you’ve written down in your budget.
So, relax and just give it your best shot.
List your income, how much and when during the month that you receive it.
Then, list your recurring expenses – how much, to whom and when during the month that you pay them.
Next, ballpark any other expenses you can come up with off the top of your head – things like groceries, gas, etc. and list those too.
All of these steps can be done with just you and your spouse, a pad of paper and a pen or pencil. Add up your income and subtract all your expenses in one monthly total. That’s it – you’ve now created a rudimentary budget.
If you’re in the negative you know you’ve got a problem. If you’re in the positive, you’re either doing really well or you’ve forgotten something. Keep working on your master list until you’re comfortable with it.
Here are a few additional suggestions to help along the way in the months to come as you refine your budget:
Keep it simple. Having 150 categorization buckets won’t give you much more than a headache. This is a practical family budget – not a second job filled with painful number crunching.
Make a plan to pay off your debt – permanently; start saving 10% of your gross income. Invest it wisely to ensure a safe and good return.
Become aware of the concept of cash flow. You will need to forecast your daily check account balance for your budget to really sing.
Always keep some fun money in your family budget. A draconian, taskmaster budget can quickly kill everyone’s enthusiasm for following it. A good family budget should enhance the quality of your family life.
Spring Clean Your Storage Area
Inspect your Food Storage Area for unwanted moisture, pests, etc.
Discard food which has been damaged, has become unsafe, or is unusable.
Take inventory; confirm quantities of food match family usage and expectations.
Ensure rotation procedures are being followed and oldest food is being used first.
Sandy Utah Home Storage Center Dry Pack (801-561-8104)
Friday, May 1st - 5:00 pm to 9:00 pm
Thursday, June 4th - 1:00 pm to 5:00 pm
Dry Pack times are listed in the Stake Calendar as ‘Home Storage.’
These times have been reserved for our Stake.