You’ve got your family budget created. Despite all the effort you’re making to stick to it, you’re not finding that it’s working out. Someone in the house is still overspending.
The biggest problem you face is likely that people in your family aren’t on board with the new family budget. They may not even know it exists or that you’re trying to find a way to control your cash flow. Some may not even agree with the budget or may struggle with the idea of sticking to it.
A budget is only as good as the people who stick to it. Your family budget can look flawless on paper. You realize that if you cut back on eating out or if you don’t buy branded products from the grocery store, you can save a fortune each month. But is that something that everyone in the house is going to stick to? Is it realistic for all those in your house? Here’s why everyone needs to be on board with your family budget.
A Monthly Budget Planner: Sort Your $hit Out!
If they don’t know, they won’t stick to your family budget
The biggest issue is making a family budget that nobody else knows about. You can create a budget all you want, but if the other people in your house spending money don’t realize you have it, then they’re not going to stick to it. Right?
And this isn’t just about making them aware of a budget. Your family members need to be able to see the budget. They need to know how much is left in each envelope or within the individual sections of your budget; however you create it. If they can’t see what you have left, how are they going to know if they can spend money or not?
Once you’ve set the budget, make it easy to find it. Do you use an app? What about having a paper budget? Everyone needs to be able to see what’s left in the various “envelopes.”
Everyone needs to agree
Another important reason all need to be on board is that everyone needs to agree. What’s realistic for some isn’t for others. For example, I know people who have a “no eating out” rule for their budget. That wouldn’t be realistic for me. I like to spend money on good food. Meanwhile, I’ll not buy designer or I’ll not buy branded products, but I know people who couldn’t possibly do that.
So, everyone in the house needs to agree with the new family budget. Let everyone have some sort of input. Let them tell you what’s important to them, what’s non-negotiable.
If you make a budget where people don’t agree, they’re going to rebel. They’ll spend money instead of sticking to what you had planned.
With everyone on board with the family budget, you’ll find it much easier to stick to. It doesn’t matter how to set that budget up or what type of budget you have, the number one rule is to make sure everyone is involved and agrees to it.
How have you created your family budget? Share your thoughts in the comments below.