Tips for Making a Family Budget and Sticking To It

There are a lot of tips for making a family budget but it is important to understand how to make a family budget that is realistic. Even though everyone has different incomes, expenses, and lifestyles, everyone needs to set aside a percentage of income to pay for the basics such as food, shelter, and clothing. However, it isn’t just about making a family budget, but also sticking to it!

tips for making a family budget and sticking to it

Tips for making a family budget and how to stick to it

We all hate doing it, but it’s a part of being a grown-up with grown-up responsibilities.

Figure Out Your Monthly Income

It’s important to figure out what each person makes from his or her monthly income. Then, each person should decide what percentage of income goes into:

  • the basic necessities of life
  • what percentage goes into savings
  • what percentage goes towards debt

Once each family member knows his or her monthly income and expenses, each one can start to figure out what their family budget is going to be. Everyone should start with the basic necessities first. By taking care of the basics there will be fewer worries in paying bills and saving money so that more money will go into the other categories.


When working toward your household budget, it’s important everyone is on board and commits to an end goal. Having a goal is important for this to be successful. Some people get so caught up in work and finances, they end up so stressed out, making it impossible to do anything.

To get your household budget under control, everyone should start at the same point. If you’re having a hard time coming up with a realistic budget then you might want to hire someone to do the work for you. If people don’t see progress, they become discouraged and give up on budgets.

It’s important to know the basic expenses everyone has, as well as the monthly income each person makes. Knowing this will make it easier for you to figure out how to cut back on things like:

  • food
  • gasoline
  • other basic necessities

Calculating Spending and Earning

Once all of the information has been gathered together, it’s time to figure out:

  • how much money each family member is earning
  • what percentage each family member is spending on their basic necessities

After everyone figures out the amount of money they spend on their necessities it will be easier for them to figure out the amount they can put back in their monthly income.

Once everyone has decided WHAT they want to accomplish through their household budget, it’s time to find ways to MAKE it happen. Working toward a goal can be done by saving money, spending less money, or both.

Stay Within Your Budget

When a family is trying to save money, they have to figure out how much money they can spend without breaking their financial status. Once you have decided on a budget the most important thing: stick to that budget and stay consistent with you spending habits. If you can stick to your budget your family will be able to save money and avoid getting into debt.

If you are already in debt then you might need to look into other solutions for serious financial issues. For instance, if you might want to look into the pros and cons of debt settlement if you are struggling to stay afloat financially.


When making a family budget a few important things should always be kept in mind. By keeping your savings plan and spending in mind your family will be able to find financial success.

About the Writer: Samantha Higgins is a professional writer with a passion for research, observation, and innovation. She is nurturing a growing family of twin boys in Portland, Oregon with her husband. She loves kayaking and reading creative non-fiction.

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By | 2023-01-23T15:03:10-05:00 November 11, 2020|Lifestyle|Comments Off on Tips for Making a Family Budget and Sticking To It