| For many families the household budget can be an | | | | 2. List Your Goals- Once your priorities are set you |
| intense source of familial conflict. Not everyone always | | | | can start listing the goals that will support the priorities. |
| agrees with how the money should be spent or how it | | | | Goals are specific and measurable conditions that are |
| should be managed. More often then not the rest of | | | | met in such a way that they bring you closer to fulfilling |
| the family reluctantly defers to whoever brings home | | | | your priorities. |
| the most pay when it comes to financial decision | | | | When you set a goal it should be a target that is |
| making, but many times this can cause resentment | | | | achievable with a sound financial plan that starts with |
| towards that person. | | | | the family budget. A goal can be paying off a certain |
| Money is an important part of any family's life and | | | | debt in a certain amount of time or saving a set sum |
| many times family peace and cohesiveness are | | | | of money in a year's time. If you set one to two goals |
| threatened by the lack of a sound financial plan that | | | | per priority you will find yourself staying focused on the |
| has little or no direction. By including everyone in the | | | | task at hand. |
| decision making process and setting a list of priorities | | | | 3. Meet Your Goals – Once you have set your |
| and goals that everyone agrees on you can bring | | | | priorities and goals it is time to start working towards |
| peace and harmony to the family money situation. | | | | them. The first step is the implementation of the family |
| Here are four steps to bringing peace to your family | | | | budget. This will allow you to track the family money, |
| budget: | | | | both income and expenses. It can be as simple as |
| 1. Set Priorities – Priorities and goals are not | | | | writing it down in a notebook or you can buy personal |
| necessarily the same thing. These are things in your | | | | accounting software that helps you manage your |
| family's life that you want to focus on in the long term. | | | | family finances. Which ever method you use it is |
| This could be anything from purchasing a new home, | | | | imperative that you track your family's money with a |
| college savings, or any other long term financial plan. | | | | budget. |
| The goals you set in step 2 are specific targets you | | | | 4. Periodic Evaluations – From time to time check to |
| need to hit in order to bring your priorities to fruition. | | | | see how you are progressing towards your goals and |
| Do not set to many priorities. No more than 2 or 3 at | | | | priorities. This is something the whole family can do |
| the time. Remember these are long term plans that will | | | | together. As you check off goals met it will give you |
| have a positive impact on your family's life. As you and | | | | and your family member a certain feeling of |
| your family set your priorities write them down and | | | | satisfaction. As you meet your goals and then your |
| keep them conspicuous. This will give your entire family | | | | priorities re-evaluate your current situation and set new |
| the focus they need to meet these plans. | | | | ones that can be met. |