Archive for the 'Family Budget Planning' Category

There has been a slow shift in the American household over the last ten years or so. As we have experienced a downtrend in the economy, many of the so-called stay-at-home wives and mothers have been forced to go out and get a job to augment the family income. In some cases, the economy has placed the family in a position where this temporary situation actually placed them into being the main ‘bread winner’.
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A new report from the National Employment Law Project is indicating that while most of the jobs that have been lost due to the downturn of the economy were middle income wages, the new jobs that are being added are typically low income positions.
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How To Save Money At The Grocery Store?

Have you ever read stories about the Mother of five exiting the grocery store with carts of food and having spent only a pittance of money? You might have even stood behind one of the behemoths of the coupon world as she plunked down what looked like hundreds of coupons. While some of these stories may have had some exaggeration, the savvy shopper can address the question how to save money at the grocery store and not anger the customers behind you.
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What is the best way to organize my finances?

What is the best way to organize my finances? If you have ever wondered this question you are no alone, and the answer is that there is no one ideal organization method that will work for everyone. The best way for you to get your finances in order is to look at all the factors involved, and determine which methods and tips will work for you, and that you will use. Organization is about having a place where everything goes, and being able to locate files and financial records quickly when they are needed. The systems and methods which are ideal for you may not be best for someone else, so you may have to use trial and error to find out what organization methods work well for you specifically.
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What is the right income expenditure ratio for your family?

There is no magic percentage when it comes to the right income expenditure ratio for your family. This ratio is an important budgeting tool, but there is not a specific percentage that is ideal for every single family. That does not mean that you can not determine what ratio is best for your family, just that you will have to look at all of your budget factors, amounts, and columns to arrive at this ideal number for your unique family. Ideally all households would only spend between fifty and seventy five percent of income on expenditures, and the balance would be used for savings, but this is often not possible. First you need to make a list of all the income your family has each month, as well as a list of all the expenditures that are paid out every month.
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How to organize family budget planning worksheet?

If you are trying to budget, and organize your family and household finances, then a family budget planning worksheet can be a big help in these areas. But what is the best way to organize this worksheet so it has maximum effectiveness? There is no one size fits all worksheet, but there are many templates that you can download off the Internet as a start. Some of these generic worksheet templates may include many categories that you want and may be a good fit, while others may not be relevant to your finances at all. Another option is to create a spreadsheet yourself, with all of the required categories and fields. If you are not experienced with creating spreadsheets this option may not be ideal though, because your inexperience may mean this project can be both time consuming and frustrating.
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7 tips for organizing home finances

1. Create A File System
Organizing home finances should always start with a file system. This does not have to be a traditional filing cabinet if you prefer file folders or boxes, but it is important for you to have a file storage system in place. Otherwise your important home financial information may be scattered all over when you need it the most. Adults require a lot of paperwork and important records, such as tax records, insurance and health records, and many other records and files. A filing system will let you store and find these files quickly and easily if they are needed.
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Newlywed Financial Checklist

Walking down the aisle is one of the most important decisions that two people can make. When two people get married, they bring their spending habits, debt and credit scores with them, so it is important to establish a newlywed financial checklist as part of your premarital financial planning. Money problems are the biggest reason for divorce so a newlywed financial checklist that helps get your financial life in order will not only decrease financial problems but marital ones as well.
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Premarital Financial Planning

With the big day approaching, finances can take the back burner to flower arrangements, photography and wedding favors, but those looking to be stress free after the wedding will take heed to the following tips for premarital financial planning.

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Planning For Your Child's Education

Planning for your child’s education is one of the most important aspects of financial planning. College tuition planning is becoming increasingly important because tuition costs continue to rise at epic proportions while at the same time a college degree is almost necessary to get a good job.
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