Closing the Budget Gap for Your Family

Closing the Budget Gap for Your Family 

Guest Blogger:  

J. Baker, National Techmark

Happy New Year!  Now that the frills and thrills of the holiday is but a distance memory, let's all take a moment to reflect on this past year in the way of finances, saving and budgeting our money.

For instance, we have all been hit with a few tight spots on the income/expense front at one point in our lives (if not, then count yourself LUCKY) and we are always looking for ways to improve and to keep more money IN OUR POCKETS!

A great example would be right at the end of the month, when the refrigerator and pantry has almost reached the EMPTY status and your paycheck is still a week away. While you can always get a payday loan when you have a shortfall in your budget, you can also learn to budget better so that you don’t have these types of emergencies. 

It's a good point to plan for the unexpected emergencies that can and will happen to any of us at any given time.  Starting off with a basic budget to highlight where your money will be spent every month is a great starting point and won't take much time to layout with a few steps.

Here are a few items that will stick it hard to your budget line if you're not careful to NOT allow it to get out of hand:

Gasoline 

A rise of 50 cents or more a gallon in a couple months can steal lots of dollars out of your budget, depending on how much you drive. With gas prices continuing to rise, it may be tough to realize until the pain shows up in a budget shortfall at the end of the month. Try to reduce the cost of transportation by either driving less, planning trips better, or carpooling. Taking public transportation is also a good option to reduce the cost of travel. 

Kids 

If you are a family with kids, that can be a source of stress on your budget. There is always something that a child needs as they continue to grow. Try to pool clothing needs with families that have children of similar ages or later. Hand me downs are the best thing since sliced bread!

Avoid giving in to every request that a school makes for money. Prepare your kids lunches and let them brown bag it. Use thrift stores to find things that can help with a growing family at a lower cost. Remember that a loving home is more important than things. 

Food 

Food eaten out can be a huge drain on a family budget. Even eating out only once a week can mount into the hundreds of dollars of extra money needed for a budget. Try to keep eating out down to a minimum. Use services like Angel Food Ministries to buy food at a discount. Learn some good cooking skills and use mealtime as family time to help instill savings and love into the home.

I have posted just a few tips, please; post other ways of saving money in the comment section!  Thank You!