• Basic decisions should be made which involve the entire family concerning how the money will be spent, who will actually pay the bills, and who will maintain the budget.

• Develop your own spending plan – suited to your family’s income, needs, goals. Don’t try to follow others.

• Decide what your family’s most important goals are. Your money should be spent for those things which mean most to your family’s welfare and happiness.

• Plan ahead for the whole year … only in this way can you have a true picture of where your are going and how well you are following your financial plan.

• Include all your income and all your expenses. Plan according to what your income is now and what your expect it to be.

• Keep good records but make the procedure as simple as possible.

• It is important that you track and record most every penny spent in order to control spending habits.

• As a homeowner, it is extremely important that your include reserve accounts for home maintenance in your budget plan.

• Pay yourself first by developing a personal savings plan. Try to save 10% of your income. If you can’t manage 10% right away, try to save a smaller amount, but do so regularly.

• It at the beginning, you fail at times to stick to your budget plan, don’t give up; stay with it. You will succeed if you are determined.

• Review your plan once a month. Analyze expenditures and alter the plan if you feel adjustments would improve the workability of your budget.

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