Family Budgeting: Reasons Behind Failure

By: James DeSantis


Make no mistake, family budgeting should be taken seriously by every family. Money is the only tool you have to secure your future and the future of your family and to live a good life starting now Unless you get your spending under control and start treating your household like a banker, you are destined to struggle financially for the rest of your life.

There are three blocks you must demolish.

Family Budget Blocker #1 - A Fearful or Negative Attitude

Get this --a positive attitude about family budgeting is necessary to your success. If you think of budgeting with doom and gloom (such as a lifestyle diet, lifestyle handcuffs, deprivation, penny-pinching, a major sacrifice), you are sure to fail. Of course you may have a martyr or a masochist complex and are addicted to a punishing and stressful experience. However, let's think positive and assume that you are really desperate to get a handle on your finances.

A positive attitude towards money will help you think of your family budget as a positive means to a positive end. You will learn that it is a way to achieve your personal dreams and financial goals. You will see that putting off the instant gratification of debt induced lifestyle is worth the rewards you will earn in the end.

Family Budget Blocker #2 - Poor or Weak Motivation

What is your motivation for creating a family budget? Are you trying to make a mate happy? Are you being forced to follow the terms of a debt repayment plan with a loan company? Complying with judge's order made in bankruptcy court?

These are not the best motivators because they are externalmotivators and will probably not be easy to maintain under constant stress. The best motivators come from within you. You must be motivated by the idea that family budgeting will really help you meet your goals and give you a better life.

Family Budget Blocker # 3 - Magical Thinking

What do you expect to gain from developing and following a family budget? Do you think that setting up a family budget will somehow magically make tons of extra cash available quickly? Perhaps you think that the family budget will somehow magically transform your spending habits next week and make you a financially responsible person who has all their bills paid and money left over for luxuries?

Sorry, but, family budgeting is just as serious as any business. Only those who with with it personal finances, through every setback, will be successful financially. Do not expect miracles. What you will get, if you work your family finances, is steady and measurable progress towards the goals that really matter to you and your family.

Creating a family budget without a positive attitude about your abilities to handle it; internal motivation to overcome all obstacles, and realistic expectations, will likely set you up for failure before you even get started. You can greatly increase your chances of success by overcoming the three Family Budget Blockers before you even begin.

Family financial crises make most people want to shut off the telephone, stop answering the door, and crawl into bed but the solutions are really simple.

One of the easiest steps for any family budgeting approach, is to take a long and hard look at the spending habits and financial patterns within the household especially if you have a family! It is almost like running a diagnostic on your vehicle.

You need to get the whole family together and put your family budget under close scrutiny. This can prove both daunting and stressful because some family members will be asked to be honest about their spending habits. This is the first step.

A close second, and sometimes overlooked, is using a reward system for those family members who get with the new budgeting strategy. Rewards will keep the motivation going! In other words, as you achieve budget goals give yourself or your family members a treat as a reward for a job well done.

As you begin your family budget plan it may seem to be an uphill battle at first but, if you stick with it, you will begin to experience the benefits of family budgeting. Before you know it, you will see big financial benefits on many fronts.

Active and hands-on cash management, including savings, planning for retirement, and setting financial goals are becoming increasingly important for the survival and well-being of our families. The marketplace has become extremely competitive for jobs, prices fluctuate wildly for basic commodities such as food and energy. More than ever we need to be prepared by getting our family budgets under control.

It will take a leader in the family to make this work. You can be the one who motivates others to come up with new ideas on how to save money, budget better and spend less! Together you can create unique strategies from a deep understanding of your own situation, demands, and needs.

Discover which tips and ideas work best for everyone because money management and financial strategies are definitely not one-size-fits-all. Your lifestyle, needs, and wants are personal and unique to your situation and so are the solutions you need to find. Find them and apply them to your family budget plan as soon as possible.

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Jim DeSantis is an Internet Reporter and former TV News Editor who would like to give you a free family budget plan to get you started on the road to financial health. No email or sign up required. Go to Free Family Budget Plan - here! jim-desantis.blogspot.com/2009/04/free-family-budget-plan-that-works.html

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