Budgeting and Planning for the Whole Family

A Production of the Ultimate Homeschool Podcast Network.

Hey there, money masters in the making! Welcome to a whole new adventure – the world of finances! This month, we’re diving into the exciting world of budgeting, saving, and setting financial goals. Ever wondered where your money disappears by the end of the month? Well, worry not! We’ve got a Financial Road Map Planner — help is on the way.

Free Budgeting printable Financial Road Map for the whole family.

Budgeting Whiz?

So, are you a budgeting whiz or do you find it a bit tricky? Are you drowning in debt, or are you living the carefree life? No matter where you stand, don’t give up! We all have strengths and weaknesses when it comes to managing our money. It’s time to take a close look at where your money is going.

Think about it – are you a generous giver, a spontaneous spender, or someone diligently saving up for a rainy day? It’s essential to figure out what’s important to you. Take some time to chat with your family, especially your parents, and make sure everyone is on the same page. It might be a bit challenging at first, but trust me, after a few months of budgeting, it gets much easier.

Get the Whole Family Involved in Budgeting

And hey, it’s never too early to get your whole family involved! Teach your younger siblings or kids how to budget and plan for the future. It’s like a super cool family project! Plus, it sets the stage for a financially savvy future.

Feeling a bit disorganized? No problemo! There’s an awesome tool called Organize-IT Planners, and you can grab them from the Media Angels website. These planners are like your financial superhero sidekick, helping you stay organized and on top of your money game.

Homeschooling parents, listen up!

Everything can be a learning opportunity, even budgeting. Share these forms with your teens so they can build good money habits. It takes a bit of discipline and self-control, but mastering your finances is like unlocking a superpower!

Now, about the Organize-IT Planner – it’s designed to give you choices.

Don’t stress if you need to skip a few pages. You might not need three monthly budgets; try one or two and see what works best for you. Once you find the perfect fit, it can be your Ultimate Binder material. If you don’t have one, set it up! Add a finance section with all the important pages from this planner.

Remember, it doesn’t matter if your paycheck is big or small – this planner is here for you.

It equips you to be a good steward of what you have, just like a superhero protecting their city. There’s even a kids’ planner for the younger ones, so everyone in the family can join the financial fun! The student planner is Valentine’s themed for February with a focus on loving your neighbor. The perfect companion to budgeting. Being careful with money helps us helps others in times of need.

So, buckle up, money enthusiasts! Let’s make budgeting and planning the coolest adventure of the year. Your financial future is looking bright!

Sign Up Here & Get the Financial Road Map Planner

PS. Be sure to check out our brand new podcast on the Ultimate Homeschool Podcast Network, It’s Not About Money. This podcast is your go-to resource for raising responsible and ready adults, providing insights and actionable advice on money matters and beyond.

Teaching Kids About Money – MBFLP 223

A Production of the Ultimate Homeschool Podcast Network.

Teaching Young Kids About Money

Today we’re talking about one of those most practical of all topics – money, and particularly how you teach your young people about it. This was easier with the older kids because with the older kids, I mean, you get a job, start a business, make a budget, save money, easy. You can’t tell your five year old to go get a job.

So how do you teach these young kids to manage money? How do you teach them to take it seriously?

We do need to take it seriously because of the things we noticed when we were researching our book on marriage. The Holmes-Rahe Stress Test, something psychologists developed years ago, ranked major life events in their order of impact on your health. The death of a spouse is number 1. Number 14 was “financial issues,” but everything above number 14 had a financial impact of some sort. It touches every aspect of our lives and you know, it’s something that we need to be intentional about teaching, starting from very early, to be stewards of what God’s given them.

So what does that look like?

Teaching Young Kids About Money

Part of it is just teaching them what money is and what it’s about. For example, we teach our kids that money is like a voucher for work. That’s a concept which we don’t think everybody has really thought through. We’re in the business of writing and publishing books, but we can’t take box loads of books down to city hall to pay our electrical bill. They’re not going to be impressed because they don’t need books. You need money because money is a voucher – we get a check for the month for the work we do and we take it to the bank and when we use that money to pay other people to their work,

That’s an important principle to get to the children to see that every piece of money that passes through your hands, somebody worked and did something productive. Either they did some labor or they produced something for sale, and that that piece of money represents certain amount of their work, time, and effort.

It’s really super important for young kids to grasp because you know when you connect it, when you can say, okay, well dad had to work for this money. What he did earned the money that we’re spending. That makes it real and helps the child understand that spending is not just, “Oh, Daddy has this wonderful magic card and we just hand it to the merchant and they give us hamburgers.” … (listen to the whole thing below!)

 


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Five Ways to Optimize Your Christmas Budget – MBFLP 217

A Production of the Ultimate Homeschool Podcast Network.

Five (no, more) ways to make the most of your Christmas budget!

 

Whether the economy is strong or struggling, the traditional Christmas gift-buying rush is a major expense. When you’ve got a big family like ours, that only accentuates it! This week, we’re talking about ways we’ve learned to make your Christmas budget go a long way, even with lot of kids and a little bit of money.

Big Family, Small Budget

We have a big family – eight children, and now they’re getting married and bringing new family and grandkids into the mix. So a long time ago, we had to figure out how to budget for a fun Christmas that didn’t bankrupt the whole operation!

We’ve found several concepts that have helped us make the most of our Christmas shopping. Let’s talk about the kids first.

Shopping for the Children

  1. Look for presents which are both educational and fun. There are more than you think!
  2. Find gifts that encourage interaction. Multi-player games can entertain more people than single-player varieties.
  3. Choose gifts that are appropriate for multiple ages. Remember you can team older and younger players together so different ages can have a chance at games. Sometimes you can even give a larger gift for multiple children to share.
  4. Look for creative and constructive gifts. Art supplies, craft kits (see below!), construction toys, model kits, and tools are great ideas. For school-aged kids, we found it was better to buy inexpensive but real tools and supplies rather than the toy varieties that aren’t really useful.
  5. Seek out gifts of lasting value. Toys and games which have been popular for a long time, classic books (for children as well as older readers), clothing that won’t go out of style – these won’t fall out of fashion!

What About Each Other?

Smart gift shopping when there's lots of kids and not lots of money

  1. Be sure you’re in agreement about shopping – like how much to spend on each other. Be honest … and don’t cheat.
  2. Know your mate’s preferences – practical or whimsical, surprise or planned gifts. The only right answer is the one that makes your mate happy.
  3. Don’t overlook experiences, services, or pre-owned treasures. We’ve done all of these at different times.
  4. Old Christmas is an option. Christmas used to be celebrated on January 6, and some people still observe “the twelve days of Christmas.” When we were newlyweds, we exchanged gifts on Old Christmas – after taking advantage of the year-end clearance sales! Mom and Dad might agree to do this for each other, even while sharing the usual December 25 event with the children.

Pro Tip

Family Gift List – A few years ago, we started a family gift list on Google Docs. We try to keep this updated all year long, with options divided by price range – free things, $5 gifts, $20 gifts, more expensive gifts. This has been a big help as our kids reach for adulthood and have more specific interests and needs. It’s also helpful for birthdays, Valentine’s, Mother’s Day or Father’s Day, and anniversary presents!

REFERENCES

RESOURCES

Homeschool Budgeting

A Production of the Ultimate Homeschool Podcast Network.

Richele and Lindsey understand what it is like to have to homeschool on a budget. Affording the homeschool life doesn’t have to be stressful. There are ways to combat the cost while providing a quality education. Join Richele and Lindsey for tips and suggestions to help you save time and money!

 

Budgeting Tool:  https://www.talkingmom2mom.com/2017/04/organize-your-homeschool-year.html

 

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