When you think about budgeting, do you imagine yourself sitting at a table with your spouse and staring at spreadsheets on a screen? This method of budgeting might work well, but it's boring too. What if you could add some fun to your budgeting so that you can get yourself excited about it? Start by setting some goals that you're passionate about fulfilling and then write those goals down. These goals might include:
- Adding an extra $1000 to your investment account
- Planning your wedding
- Funding your side hustle so it can grow
- Going on a weekend shopping spree for your birthday
Here are additional ways to make budgeting fun.
Have a Grocery Shopping Challenge
Many families overspend on groceries, and this is why you sometimes struggle with maintaining your budget. One way to cut back on spending too much on food is to hold a grocery shopping challenge. For example, you might decide to have a challenge where you will only spend $200 on groceries for the month, and not return again to the store until all of the leftovers have been eaten.
Do Side Hustles As a Family
This is another fun way to budget the family's finances. If your teenage daughters enjoy clothing, then bring them to different thrift stores and help them find designer brand outfits that are marked down. Then bring those clothes home and help your daughters pick the outfits that are most likely to sell online. Finally, you and your daughters will list the items on certain websites.
Celebrate Your Small Progresses
This helps you stay motivated in sticking to your financial goals. If you're two weeks away from paying off your student loan debt, celebrate by treating yourself to a nice meal at a restaurant or your favorite frozen coffee. Or if you saved the amount you wanted to save for a used car, you can take the kids on a road trip to celebrate.
Create A Scrapbook of Dreams
Another fun idea would be to create a scrapbook where you include pictures, quotes, and anything else that reminds you of the dreams you have, and how you will achieve those goals. If you have the goal of being able to travel to different countries after retirement, then paste pictures from magazines of the places you want to visit.
Watch Your Favorite Personal Finance Videos
YouTube is filled with channels from legitimate personal finance experts and everyday families who succeeded in getting out of debt. Instead of watching mindless celebrity gossip, educate yourself financially by watching financial literacy videos. Take notes on paper then do further research online.Read the books that are recommended in the videos.
Research and Invest in Stocks
One of the best ways to build wealth is through investing, and if part of your budget goes towards investments, then it's crucial to research and purchase the right stocks and bonds. Spend every other weekend learning about different stocks and then purchase the ones that best suit your financial goals.
These tips will take the boredom out of budgeting as a family.
If you are burdened with high amounts of credit card debt and are struggling to make your payments, or you’re just not seeing your balances go down, call Timberline Financial today for a free financial analysis.
Our team of highly skilled professionals will evaluate your current situation to see if you may qualify for one of our debt relief programs. You don’t have to struggle with high-interest credit card debt any longer.