If your bills and expenses equals more than your income, you are headed for trouble and you must take steps immediately to get back on track. There must be enough money coming into your household to cover what is going out in expenses.

If there is a big difference between what is incoming and what is going out, then you may be headed for trouble. The sooner you can find some solutions, the faster you can be in a position to balance your budget.

There are only two ways to get more money each month:

1) Increase your income or the expendable ability to trade or barter for what you need
2) Decrease your outgo and cut out all unnecessary expenditures and budget very carefully.

Involve the Whole Family

When all the members of the family are told the truth about the financial situation, they will understand that it will take the effort of everyone to pitch in and help with expenses. It is important to get their “ownership” of the problem and a commitment to cutting back until the finances improve.

Part time Job Saving Money

Does your family need a little less month or a little more money? Then consider a part time job saving money.

That’s right, by involving the entire family in a few hours planning, budgeting and goal setting; you can save as much as you would working another part time job. Then as a family, you can decide what you will be able to do with the money you save by making wise financial decisions.

Here are some ideas to start your family thinking, and an easy acronym to help you remember what you need to do:

B Buy what you need, not what you want.
U Use your talents and skills to trade services.
D Don’t ever spend money in anticipation of earning it.
G Garage sales, thrift stores, consignment shops to find bargains.
E Eat your meals at home or make it at home and take it with you.
T Track your spending so you will have money to track.
S Simplify your life.

Spend twice as much time and half as much money on your child’s entertainment and you will both be happier. A relaxed and present parent is the best thing in a child’s life. Anyone can afford the priceless gift of a walk in the park or a bedtime snuggle.

(c) Judy H. Wright also known as Auntie Artichoke, family relationship coach and author.

You are invited to join us for Thursday morning teleclasses and radio shows at www.ArtichokePress.com You will be glad you did.

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