Monthly Family Budget

Monthly Family Budget Created in 5 Simple Steps

Updated 2019

Creating a monthly family budget is a challenging job. It takes time to master the skill of balancing cash inflow and cash outflow. Yet, this is a very important task to control our finances, if not, it would be otherwise.

Sit down for a few hours to think about the things involved in budgeting. Good planning is the key to create a successful household monthly family budget. But, execution is the best way to overcome the challenge and find your way to financial stability.

To be able to make it possible, even if how demanding it seems, break it into a simple method. And, get started. So, let’s get the ball rolling!

Easy Steps to get you started

STEP #1: Determine your goal.

OmahaSteaks.com, Inc. Setting a goal is a very important step. This creates the map on where the plan is going. For whatever reason you have in mind, this becomes your lead. And your motivation in sticking to the monthly family budget for the family.
Also, it must be specific, measurable, accurate, and realistic and, time-bounded – SMART.
Writing your goal will also help you get focus and reminded of your goal.

STEP #2: Select the budgeting style that fits you.

Photo by NeONBRAND on Unsplash 1

Photo by NeONBRAND on Unsplash

Recording your cash inflow and outflow using a pen and paper are still common today. Using an accounting ledger, you can write down the ins and outs of cash. A working calculator is also needed to help you in the computation.

Though manual is still an accurate way to notate income and expenses. An electronic budgeting software will make your job a lot easier with fewer errors too. Visit Mint.com to sign up and create an account for a budgeting tool.

STEP #3: List everything that affects budgeting

Photo by Dose Media on Unsplash

Photo by Dose Media on Unsplash

U.S News and World Report suggest separating the incoming and outgoing. Anything that has something to do with the finances must be included. Like income statement, bills or receipts must be listed and categorized. Get the total of the incoming amount as well as the outgoing. At this point, you will be able to determine which amount is higher.

In most cases, income is smaller compared to expenses, hence budgeting will come in.

STEP #4: Study and check the expenses.

Photo by Lonely Planet on Unsplash

Photo by Lonely Planet on Unsplash

This step will help you determine the specifics of the outgoing category. It includes utility bills, mortgages, and credit cards. Also, another necessary spending like food and clothing needs review.

Draw your attention to optional spending. That is usually incorporated into your necessity, like expenditures for recreational activities. Keep an eye on this subcategory since it will go up fast without us being aware consciously. It is wiser to control this spending as this is the only option that you can divert money to pay off debts.

Control and be mindful.

STEP #5: Debt pays off.

Photo by Matthew Kwong on Unsplash

Photo by Matthew Kwong on Unsplash

Most of us want to become financially free. That is the reason for budgeting with the hope of getting out of the rat race. The way to make it happen is to pay debts each month, at least. But, if you’ll pay higher than that, it will decrease the debt and makes interest lesser.

College to Career

As a new graduate, you might not know what your next step should be. Check out Transitioning from College to Career: A Guide for New Grads by our friends at Groom and Style.  Part of your monthly family budget should include planning for your future.  This guide is an outstanding resource to prepare young adults in the “real world.”

Monthly Family Budget Final word

Monthly family budgeting is a mixed-up, but it doesn’t say it is difficult. Self-discipline is a key to make budgeting work easier. We just need to live on by our means. Getting aware the real value of how much we only earn and spending only within it.

Do not spend beyond your capacity in order not to blow up.

By knowing our income, liabilities and the outflow of the money, we gain control over our finances. The challenge though is to decide which one to sacrifice to cut or minimize to live within what we earn.

In cases of payments are still much greater than the inflow, extra income can be a solution. Or, you can find your way to a free credit counseling service for a more informed decision you can make.

Nothing is impossible if you believe and act on it.

What do you plan on doing to create a monthly family budget? Share in the comments below so that we can learn from one another.

RESOURCES

https://www.today.com/money/build-family-budget-actually-works-2D79417869

https://www.mint.com/budgeting-3/how-to-create-a-budget-step-by-step

https://theorganisedhousewife.com.au/organising/money-saving-budget-tips/how-to-create-a-family-budget/

https://www.thebalance.com/set-up-a-family-budget-3129262

https://money.usnews.com/money/blogs/my-money/2011/08/18/how-to-make-a-basic-budget

https://www.mint.com/

https://money.usnews.com/money/blogs/my-money/2011/08/18/how-to-make-a-basic-budget

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Home Delivery Services

Top 3 Meal Prep at Home Delivery Services

Are they worth their cost?

Hilton Hotels
Do you love to cook? Or you would rather get a food from delivery services and escape from the lengthy process of cooking. Not to mention, the time spent on groceries that are exhausting.

Meal preparation for me would always be an artistic expression. The colors of the fresh veggies or meat make it more of a piece of art once all combined. That is me talking.

Like, a majority if not all mothers out there tries to cook for the family. Or, just anyone who wants to get healthy food would choose home cooked foods. Then the one from fast food chains or restaurants. But, with the hectic schedule, how can it be possible to go to groceries and spend so much time?

Meal prep home delivery meals, to the rescue!

Yes, it’s like fresh ingredients from the grocery or farm delivered right to your doorsteps. And the twist goes, you will turn yourself into the chef. In an interesting note, these delivery services give you the recipe of food that we don’t commonly eat. Awesome!

Yet, you don’t have to worry, the instructions on how to prepare the meal are there as well. It makes your life so much easy. The service does the grocery for you, think about the kind of meal you want to prepare. All you need to do is cook the fresh ingredients once it arrives.

So how does it work? As easy as 1-2-3-4.

 

Step #1 Sign up. Customize your delivery dates within your accounts.

Step #2 Select your preferred food. There will be a rotation of recipes so you can choose which one you’ll love to try cooking and eat.

Step #3: Receive. It will be delivered in a box with an easy to follow the recipe, fresh and proportioned ingredients.

Step #4: Cook. Super easy, healthy and delicious meals.

Carry on, here are top 3 delivery services that you can try on and experience the difference and see its worth.

Blue Apron

OmahaSteaks.com, Inc.They aim to give each customer the best cooking experience. On your first order, upon subscription, they’ll give you $32 discount. You will have the option to sign up for a good for two meal plan or a family plan for a weekly delivery. Each box will include fresh ingredients that you can make six to sixteen meals. You don’t have to think about food wastes as it has been already sliced in portions. And, if the recipe is not within your preference you can just skip a week through your account. You can check the meal prep ingredients on their website.

Price: Starts at $8.74 per meal

The scope of Delivery: Nationwide (excluding Alaska and Hawaii)

bowl close up cooked cuisine

Photo by Dana Tentis on Pexels.com

Home Chef

They have created a perfect proportion of meals which goals to end up wasting food. They give much importance on quality and simplicity. To make sure that all meal preparations are healthy and delicious. Plus, this is so easy to cook. Every box delivered comes along with the affordable, high-quality ingredients. It has the recipe cards that are simple to follow when cooking your meal. Click here to learn more.

Price: Starts at $9.95 per meal plus $10 Weekly Shipping

The scope of Delivery: Nationwide (excluding Alaska and Hawaii)

 

Hello Fresh

If you are looking for healthier options for food on your table, Hello Fresh is someone you can call. On a weekly basis, you will get to receive the box with all the ingredients good for three meals. And, you will have it right on your doorstep. Each box can make a food for two or four people. The recipes for these meals would only take around 30 minutes to prepare.

Check their website for the recipe plans.

Price: Starts at $8.75 per meal

The scope of Delivery: Nationwide (excluding Alaska and Hawaii)

Closing

This kind of meal preparation option’s worth depends on someone priority. For anything that we want to put first, no price would be expensive for it. Meaning to say, going to the grocery takes a lot of your time which ends you up losing money. As it affects work or business, so spending higher budget than usually can be more cost-effective.

So, looking at the prices as well as the ingredients of each food preparation. The cost of each piece might differ from another. Some might be more expensive if you’ll buy it from the grocery. Most especially those items you can only buy in bulk.

Getting meal prep home delivery services could be a better option for savings.

Valuing the worth of these kinds of delivery services depends on the kind of lifestyle you have. For some, it might be cost-saving while for others it, not a perfect options. So before choosing this kind of meal preparation for your family, take time to think. If it works well for your finances as well as if it fits your life preference.

World Port Seafood

RESOURCES

https://www.daveramsey.com/blog/meal-delivery-service-worth-it

https://sunburntsaver.com/meal-delivery-services-worth-the-cost/

http://www.foodrepublic.com/2015/10/19/are-cook-at-home-meal-delivery-services-really-worth-it/

https://gethealthyu.com/are-meal-delivery-services-worth-it/

 

The Essential Guide to Father’s Day Deals and Freebies 2018

World Port Seafood

happy-fathers-day-background_GJYyqp_u_L

Dear old Dad. Provider, hard workers, and deal lover. Celebrate Dad this year with great deals from these retailers. Make sure you check before you go as supplies can be limited. Happy Father’s Day to each and every Dad.OmahaSteaks.com, Inc.

Ruth Chris Steakhouse (Deal)
Dads will receive a $25 dining card for celebrating with us.*
https://www.ruthschris.com/promotions/fathers-day/

Morton’s Steakhouse (Deal)
Prix Fixe Menu $59 Per Person
http://www.mortons.com/featuring/fathers-day/

Red Lobster (Deal)
GIFT CARDS
Spend $75 on gift cards and
get two bonus gifts in return.*
*Offer available while supplies last. Other exclusions apply. Coupon 1 valid 7/2/18-8/5/18. Coupon 2 valid from 8/6/18-9/2/18. SEE FULL TERMS AND CONDITIONS.
https://www.redlobster.com/gift-cards

Olive Garden (Deal)
Get a $10 Bonus Card with every $50 Purchased
https://www.olivegarden.com/gift-cards

Massage Envy (Deal)
Purchase $125 in gift cards for Dad & get a voucher for a 30-minute FREE Total Body Stretch session.
https://www.massageenvy.com/promotions/fathers-day/

Medieval Times (Freebie)
Dad is Free, June 4 – 17
Dad is free with the purchase of one full-priced adult. Father’s Day package upgrade available for additional $25 (plus tax) during checkout or at the door. Package includes framed photo of Dad and family, medieval cork coaster set, 25 oz glass stein with choice of beer or soda (non-alcoholic beverage will be served to minors).
Use Code: DAD18 | Valid for shows June 4 – 17, 2018
http://www.medievaltimes.com/plan-your-trip/special-offers/fathers-day-coupon.html

TCBY (Freebie)
Dads get the first 6 ounces of frozen yogurt free in a small cup or cone. Offer valid only on Sunday, June 17. Offer may vary by location.
https://www.tcby.com

Wienerschnitzel (Freebie)
Dad will receive a free Old-Fashioned Sundae all day on Father’s Day, Sunday, June 17. To redeem the offer, fathers of all ages should show proof of their “dad-ship” by bringing in their children, showing a family photo or telling a story about their kids.
http://www.wienerschnitzel.com

Firehouse Subs (Freebie)
Fathers get a free medium sub when you purchase a full-priced medium or large sub, chips and a drink. The offer is only valid on Father’s Day, June 17.
Firehouse Freebie

Applebee’s (Deal)
Celebrate Father’s Day all month long. Participating Applebee’s locations offer $1 Long Island Iced Tea drinks for the month of June.
https://www.applebees.com/en

Hilton Hotels

Save Money

Top 10 Helpful tips on How to Save Money for Families without Compromising Happiness

OmahaSteaks.com, Inc.As a parent and a wife, I can truly relate to how other moms and dads aim to provide the best of life to their kids. Today, being mindful of how we can save money for the family is on the top of our minds. Simply because we are thinking of our loved one’s happiness, now and in the future.

But, how can we meet both ends?

Well, making life worthwhile don’t need us to be extravagant. It is more practical to raise our kids in a modest and realistic way. Without depriving them to have a happy and fulfilling family life.

But how can cut off of wants lead to a simpler but pleasant life?

If we have saved money in our bank accounts, it relieves us from stress. Hence, give us to a healthier, contented and happier family.

Ways for the Family to Save Money

There are simple tricks on how to make saving easier, check these out.

Learn to be an organized shopper.

Photo by Oli Dale on Unsplash.jpg

Photo by Oli Dale on Unsplash

A prepared list of the things that we need to buy in the grocery will save us from three important things. TIME, EFFORT and MONEY. Since our goal is to make spending within the budget, it is very wise to write the items we need, and stick to it. This will help us buy what is only necessary. And prevent us from returning to the store again and again.

Get into the habit of planning and preparing meals at home.

Photo by Hermes Rivera on Unsplash.jpg

Photo by Hermes Rivera on Unsplash

Indeed it is a great idea to plan the menu for the week. A list of the meals that we want to prepare for the family help us save some dollars. By not spending unplanned dinner into expensive restaurants.

Also, this strategy will make us very keen on the food that we will prepare for our family. Giving our family a healthier, homemade meal will also save us from eating instant or fast foods. It is a great way to eat healthy food.

Shop around to find great deals.

The price comparison is another way to make great savings. The price difference from one store to another for the same item give us an extra dollars for our bank accounts.

Stay-cation instead of an expensive travel or vacation.

The idea of family- bonding will never be eliminated by staying at home instead of flying for a vacation. A quality time we have spent with our kids are more important. As compared to a luxurious getaway that is a budget buster.

Avoid spending with credit cards; use cash.

Photo by Sharon McCutcheon on Unsplash.jpg

Photo by Sharon McCutcheon on Unsplash

Usage of credit cards sometimes will leave us overspending. Or even buying things that we don’t actually need. It adds up to your liability which gains interest. Most especially if you were not able to pay off the balance due for a specific month.

Be a wise shopper, pay in cash.

Do not shop when you are stressed out.

Photo by Abigail Keenan on Unsplash.jpg

Photo by Abigail Keenan on Unsplash

We used to think that shopping relieves my stress, but it’s a wrong perception. Since we can end up buying unnecessary stuff. De-stressing like exercising, reading or napping are more effective. Take note, these activities are all FREE of cost.
Hilton Hotels

Make it a rule: Save Energy

Aside from this makes Mother Nature happy, it saves us money too. By simply turning off lights, create an impact to your budget by lowering the utility bill. And, the kids will learn a good lesson and discipline on energy conservation.

Use the reward points in Shopping.

By signing up to these reward programs lets you enjoy the perks and rebates. Once accumulated points are redeemed, you can use these for groceries or travels. It is a great way to enjoy without spending.

Buy quality appliances or other household items that are durable and reliable.

Always true. A durable product will save us from buying over and over again. Also, energy efficient items might cost a little higher, in a long run it actually saves you a lot of money. So, it pays, to do some research before buying any appliance or items.

Take good care of your health.

Photo by Jony Ariadi on Unsplash.jpg

Photo by Jony Ariadi on Unsplash

“Health is wealth.”

This does not only gives us the benefit to living longer, as this makes an impact on our financial stability. If we are often sick and needs medication, how can we save money for the future? And, if we are sick, we will not be able to move to work and be productive so this leads to the financial burden.

Takeaway

To wrap this up, there are many ways on how to save money which we can read in books and other articles alike. The reason for that is, many people are in search of an answer for financial freedom. Yet, we don’t realize that even how many books and write-ups we can read every day, if we don’t take the step, nothing will happen.

Saving for the family doesn’t have to be painful for kids nor the parents. It should be an experience worth doing that will eventually become a habit. Once, it will become part of the culture of the family, it is already a natural flow that everyone is happy of doing.

The practice will not only teach us how to save us from financial burden. But the inner value and lesson that will shape us and our kids, now and in the future.

Remember though, it will start with self- discipline, it must be within you.

If you have more tips on how to save money for the families, feel free to share it with us.

World Port Seafood

RESOURCES:

https://www.bankrate.com/banking/savings/millennial-guide-saving-up-to-move-out/

https://www.moneycrashers.com/money-saving-tips-families/

https://www.goodfinancialcents.com/simple-money-saving-tips-for-families/

https://www.thesimpledollar.com/little-steps-100-great-tips-for-saving-money-for-those-just-getting-started/.

Make Budget

Getting Smart with Booking Domestic Airfare

Disclosure: TeacherCes.com receives compensation from the companies whose products we review. We test each product thoroughly and give high marks to only the very best. We are independently owned and the opinions expressed here are our own.

Getting Smart with Booking Domestic Airfare : Are you ready for summer like I am ready for summer?  Right now you are anxiously anticipating the next chapter of our ongoing family summer vacation special blog.  The next step in my chapter is buying airline tickets to Orlando, Florida.  As many of you know, I am a working mother so having the time to figure all of this out is complex.  Thanks to our friends at CheapAir, this infographic is just want I need.  Please take a moment to check this out.  Especially if you are planning an epic summer vacation!



The 6 Booking Zones – Including the Prime Booking Window

If you can imagine that there’s an optimal window for getting the lowest price, then it only stands to reason that booking at other times offers certain benefits and risks. Last year we broke the entire window of time when a flight can be booked into 5 specific booking zones. This year— we added another. Here are the booking zones:


Infographic

  1. First Dibs
    169-319 Days in Advance
    (approximately 6 – 11 months)
    If being the early bird is your style, then you’re in the “First Dibs” (169-319 days before travel) zone. When you book this early you’re almost certainly going to pay a premium for airfare (about $50 more on average), and you’re going to watch people on your flight get better “deals” in the future when fare sales start to kick in. The airlines like to allow themselves the wiggle room to adjust flight price when the demand (or lack thereof) becomes apparent. But there is still a good argument for buying early. When you buy early you have a bevy of flight options that can shrink as the flight dates get closer. When you’re at the head of the line you can choose your seat (and make sure your group sits together), and fly at the time you prefer, getting the pick of the best itineraries for any given pair of cities. So you might find it worth the extra cash.
  2. Peace of Mind
    122-168 Days in Advance
    (approximately 4 – 6 months)
    We call this zone “Peace of Mind” (122-168 days before travel) because it alleviates travel anxiety and will cost you a bit less than “First Dibs.” If paying around $20 more for better flight options doesn’t spook you and you’re not much of a gambler, “Peace of Mind” might be just the ticket. You’ll lock in flight dates and still have a decent number of flight and seat options from which to choose.
  3. Prime Booking Window
    21-121 Days in Advance
    (approximately 3 weeks – 4 months)
    We now come to the “Prime Booking Window”, occurring 3 weeks to 4 months in advance, and otherwise known as the best zone to nab a bargain. Hunting for cheap airfare? Focus your efforts here. Its not as though you won’t see fares change in this zone but fares average within 5% of their lowest here, and you’re most likely to see a cheap fare pop up.
  4. Push Your Luck
    14-20 Days in Advance
    (2 – 3 weeks)

    Like to gamble? Miss your chance for the “Prime Booking Window?” If this is your scenario, the next option is the “Push Your Luck” zone (2 to 3 weeks before travel). This close to your travel dates, the fares usually climb and a lot of the aforementioned options are selling out. However, there are pockets of luck in this zone. We can’t make you any promises but some of those lower fares may still be available. Go into this zone with eyes open – Christmas week and popular high season destinations do not have the best odds. Less popular destinations or shoulder/low season travel might be a better risk. But be warned: even though sometimes the fare might not be that much more than if you had booked earlier, the same might not be true for seat options. Most airlines only offer a limited number of seat assignments for free; the rest of the travelers have to pay more to guarantee an aisle or window. The later you book, the less likely those free seat assignments will be available. Of course, you can always let the airline pick a seat for you for no charge, but if you care where you sit, this is something to consider.
  5. Playing with Fire
    7-13 Days in Advance
    (1 to just under 2 weeks)

    Some people just can’t help themselves – and like to fly a bit too close to the sun. Does this sound like you? If you’ve waited to buy your tickets so late that you’re “Playing with Fire” (1 to just under 2 weeks before travel), this zone was created for you. We added “Playing with Fire” this year, because the pricing is better than waiting until the very last minute. Booking here, you’re almost certainly going to pay more than “Prime Booking Window” shoppers and there’s going to be fewer flight options available. But if there’s good news it’s that you’re going to pay about 22% less on average than the people who wait even longer to buy in the next zone, Hail Mary.
  6. Hail Mary
    0-6 Days in Advance
    (less than 1 week)
    Oh dear. You waited this long to buy? We’re praying for you, dear traveler. Last-minute fares are considered the “Hail Mary” zone, so-named for obvious reasons – you’re likely to pay more (on average a whopping $208 more) than buying during the “Prime Booking” window, and you’ll surely face more limited choice in seats (oh, the dreaded center seat!).

The Days of the Week Angle

Much debate and confusion surrounds the dual topics of what day of week you should shop for flights and what day of week you should fly to get the best deals. We can break this down for you. It’s actually pretty simple.

Is there a cheapest day of the week to book flights?
Not really. The average lowest fares by purchase day of week are all within $2 of one another. That’s less than a 0.6% difference. That’s a negligible amount. Book any day of the week!

Is there a cheapest day of the week to fly?
Heck yes! Tuesday and Wednesday are the cheapest days to fly. Sunday is the most expensive. Flying on Wednesday instead of a Sunday will save you an average of $76 per airline ticket.

Seasonal Changes

Seasonality can also impact the best time to buy. Here’s the skinny on what to expect when booking flights for summer, fall, winter and spring.

how the seasons affect airfare price

When to Buy Summer Flights

Summer is the most popular season for Americans to travel. Do not wait until the last minute if you’re on a budget. In general, we recommend buying a bit earlier for the summer months, especially when traveling in July, which is the most popular air travel month of the season. August and September are where the best summer deals can be found, with late summer offering the lowest prices overall.

  • The average best time to buy is 47 days, or about 1.5 months in advance.
  • Prime Booking Window is 14 – 160 days (2 weeks to about 5 months) from travel.
  • The difference between the best and worst priced days is $203
  • Our summer airfare calendar can help make the shopping process simple and easy – showing you the cheapest and most expensive dates to fly.

When to Buy Flights in the Fall

Fall is a good value for leisure travel. It’s shoulder season for a lot of destinations, and most people have done their big trips in the summer. Therefore, you can usually find reasonably priced tickets in the fall. The one exception is Thanksgiving week, when airfares are priced at a premium and sell out quickly. You should definitely buy Thanksgiving airfare on the early side for the best prices.

  • If you’re traveling in the fall (excluding Thanksgiving), you can usually wait a bit longer to book air tickets and still not miss out on the good prices. The best time to buy is 69 days out, a little over 2 months in advance.
  • Prime Booking Window is 21 – 100 days from travel.
  • The difference between the best and worst priced days is $83, a number that’s not nearly as painful as waiting to buy your tickets for any other season.

When to Buy Winter Flights

Christmas and New Years weeks can be a money pit, but otherwise winter is often a great time to get a good deal. For general (non-holiday) winter travel:

  • 62 days from your expected travel date is the best time to buy an affordable airline ticket in the winter months.
  • Prime Booking Window is 21 – 110 days from travel.
  • The difference between the best and worst priced day is $260

When to Buy Spring Flights

Springtime is a bit tricky. On the one hand, there are no major travel holidays to drive up prices on specific dates. On the other hand, “spring break” dates cover March through April and inspire travel from college students and families with kids alike. So, in general, planning ahead is key for snagging better prices.

  • Exactly 3 months (90 days) from your travel date on average is the optimal time to buy airfare for spring air travel.
  • Prime Booking Window is 46 – 122 days from travel. Because you have a larger window to get the best fares, buying early is not a gamble.
  • The difference between the best and worst priced day is $263.