Comments on: Financial Responsibility – Start Young http://ingoodcents.com/2010/02/4931.html Extreme Deals, Freebies, Grocery Deals, & Printable Coupons Wed, 23 May 2012 17:46:56 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: ChristianMarriageSpice.com http://ingoodcents.com/2010/02/4931.html/comment-page-1#comment-1310 ChristianMarriageSpice.com Mon, 15 Feb 2010 00:12:41 +0000 http://ingoodcents.com/?p=4931#comment-1310 This is an important post for people to read. The accountability group idea for making decisions on spending above a certain threshold is great! A quick bullet list of how to create a budget: * Make a list of all the incoming money you have * Make a list of everything you spend on every month * Prioritize the list based on what's most important (cable is a bit lower on the list than water) * Plan next month based on averages from previous months * At the end of the month, reconcile, rinse and repeat. Doing the above and following up every month is more than 95% of other folks. This is an important post for people to read. The accountability group idea for making decisions on spending above a certain threshold is great!

A quick bullet list of how to create a budget:
* Make a list of all the incoming money you have
* Make a list of everything you spend on every month
* Prioritize the list based on what’s most important (cable is a bit lower on the list than water)
* Plan next month based on averages from previous months
* At the end of the month, reconcile, rinse and repeat.

Doing the above and following up every month is more than 95% of other folks.

]]> By: Beth Montgomery http://ingoodcents.com/2010/02/4931.html/comment-page-1#comment-1309 Beth Montgomery Sun, 07 Feb 2010 05:26:39 +0000 http://ingoodcents.com/?p=4931#comment-1309 Mindie, our children have accounts of their own as well. And, we take them to the bank to deposit their money and show them their statements. The don't get it completely, but they love seeing that they have money and love playing grown up with they make their deposits. Mindie, our children have accounts of their own as well. And, we take them to the bank to deposit their money and show them their statements. The don’t get it completely, but they love seeing that they have money and love playing grown up with they make their deposits.

]]> By: Mindie http://ingoodcents.com/2010/02/4931.html/comment-page-1#comment-1308 Mindie Sun, 07 Feb 2010 04:46:48 +0000 http://ingoodcents.com/?p=4931#comment-1308 Our son is only 13 months, but from the day he was born we started a savings account for him. Eventually he will have an account specifically for college, (it ain't cheap these days, and my husband and I both went and have seen the value in higher education). We have a very strict budget because my husband only gets paid once a month (he is a teacher) and when my son is older he will have an allowance, and chores (I had this growing up, it's amazing how much smarter you are with money when it isn't your parents). I like that you made your children a part of your financial vacation planning, it brings ownership and responsibility. I am going steal that idea for sure. .-= Mindie ´s last blog ..<a rel="nofollow" href="http://alifethatmatters2him.blogspot.com/2010/02/cancer.html" rel="nofollow">Cancer</a> =-. Our son is only 13 months, but from the day he was born we started a savings account for him. Eventually he will have an account specifically for college, (it ain’t cheap these days, and my husband and I both went and have seen the value in higher education). We have a very strict budget because my husband only gets paid once a month (he is a teacher) and when my son is older he will have an allowance, and chores (I had this growing up, it’s amazing how much smarter you are with money when it isn’t your parents). I like that you made your children a part of your financial vacation planning, it brings ownership and responsibility. I am going steal that idea for sure.
.-= Mindie ´s last blog ..Cancer =-.

]]>