Family Finances

January is Financial Wellness Month!  Personally I think it’s important to always have a good relationship with money and to make sure that you’ve got enough money coming in each month.  As a family, it’s even more important to be smart and knowledgeable about your money because you’re not just caring for you, you’ve got others to care for too.  So as a family what are some important things to do with finances?

1-don’t spend more than you can comfortably pay back (don’t overspend if at all possible though)

2-look for ways to make more money

3-teach your kids how to take care of their money (just giving them an allowance isn’t enough)

4-have a birthday and holiday fund (putting money in here all year long will make you less likely to cry in January)

5-have a rainy day jar or fund (also for injuries and emergencies)

6-have a date night jar or fund (yes, I’m serious)

Some other things you should take into consideration:

-have a budget and stick to it

-have a plan for retirement (I know I’m not going to get any money from the government if I retire!)

-put some money in savings accounts each month (if you can this is a great way to make your money work harder for you)

These are just a few of the things that it’s smart to do both as a family and as an individual.  What tips do you have about money?

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