Tips on Preparing the Family Budget

We are currently preparing for the SFC Singles Engagement Retreat.
This is actually an enjoyable service for H and I. It's a chance to give
back to others, the gift which we had once received.

Most couples will prepare for the perfect wedding day. Sadly, some
are ill-prepared for the marriage that happens after. The Singles
Engagement Retreat is an opportunuty for engaged couples to get
to know each other better. It is a chance to discuss likes, dislikes and
non-negotiables. The retreat's main goal is to better prepare couples
for the challenges and joys of married life.

We got a request from a participant of the last Singles Engagement
Retreat; could we provide tips on budgeting? Hmm, this is a tricky
subject. There are no hard and fast rules. Different couples use
different systems. Also, you may be using a system now but you
may decide to just replace it in the future. H and I can attest to this.

H and I are still a work in progress. In the meantime, this is what
we're working on...

Let me start off with List #2 - Tips on Preparing the Family Budget

Here are some things to consider when preparing the family budget:
1. Have an abundance mentality. Focus on your blessings.
Trust that God has already provided for all your needs.
2. Pray for guidance and the right mindset. Some couples
consider budgeting as a burdensome task. Instead, think of it as
a tool in managing your family’s finances. A positive outlook will
make budgeting a more enjoyable task.
3. Research on the different systems that are out there.
Read books. Attend seminars. Check the internet. Ask tips from
trusted family and friends. Will you use a software or will you use
old fashioned pen and paper? Try and try until you find a system
that works for you.
4. Decide on who will manage the family finances. This
includes making the budget, tracking the expenses, paying the
bills, filing the receipts, and ensuring that matters, related to the
family’s finances, are in order.
5. Include in your schedules time to discuss the family’s
budget and financial goals. Anything important is worth
setting aside time for. Don’t just compute. Use the time to discuss
your reality, your fears, your hopes and your aspirations. Goals
may vary according to the family’s needs, lifestyle, stage in life,
etc. Remember that it is okay to dream for your family. Whatever
the outcome, agree to head towards the same direction.

Hmm, that may already be a lot to chew on. I'll continue this in
my next post.


I love lists... There have been so many that I can't
recall them all...

This is my ode to the humble list...