family budget

Guest Post by Brett

Nowadays, many families struggle with the balance between living a healthy life and saving money. Not all have the luxury of an expensive gym membership or the ability to buy pricey organic foods. Instead, parents often have to make do with the limited resources at hand. However, just because your family is on a budget, doesn’t mean you can’t stay healthy at the same time. The following are several tips on how to keep your family both fit and frugal:

Pick the Right Exercises

Each member in your family will have their likes and dislikes when it comes to exercise and sports. However, there’s no need to invest in machines or expensive equipment in order to get a workout. Instead, look for activities such as running or swimming that can be done with little or no investment. Other alternatives are soccer or basketball, which require minimal equipment in order to get started. Finding low-cost, yet fun sports can be a great way to get your family moving about without spending too much.

Change How You Cook

Fitness is not just about exercise and moving around; the food you eat also plays a major role in staying healthy. While healthy cooking is a broad topic, there are a number of general tips to keep in mind when planning a meal for the family. Common tips include buying food in season, and only purchasing ingredients that you’ll need, not what you want. In addition, try to make meals for your family as often as you can, as this will cut down on costs and unwanted calories incurred from eating out.

Be Creative

When it comes to getting the entire family up and moving, you’ll need to devise a creative way to include both the adults and the kids. Instead of boring the children with walks or yoga sessions, look for activities that engage both parties. For example, swimming is a great activity that appeals to individuals of all ages. Not only are children able to play in the water, adults can also benefit from a challenging workout. Another way is to add fitness into a chore – by integrating physical activity into chores such as cleaning, you can save time while keeping your home clean and organized.

Adjust your Daily Habits

If you find yourself pressed for time to exercise, try to work around your busy schedule. There are several ways to add more activity to your day without breaking the bank. For example, park further away from your destination to encourage members to walk a further distance. Or opt for a walk in the park, instead of sitting on the couch and watching TV. Changing or adjusting your daily habits can be a great way to avoid a sedentary lifestyle, without investing too much money or time.

Go for Used

If your family is looking to try out a sport, one way to save money is to look for financially friendly options. Buying used or pre-owned equipment can be a smart way to avoid overstretching your budget. For example, if you’re looking for sporting supplies such as a bike or swim gear, then browsing sites such as Craigslist or yard sales can yield substantial savings. In short, there’s no need to strain your wallet with costly equipment, not when there are cheaper options available.

Brett Callan is a writer for Murray Callan Swim Schools, where their Vista swim lessons offer customized support for children throughout San Diego. He loves to enjoy the San Diego weather whenever he can, whether from the beach or at a pool.

Create a budget

Creating a budget does not have to involve any elaborate tools, something as simple as an Excel spreadsheet can be used to assess how much money is coming in and where that money is going. It may then be possible to re-direct some money towards a long term goal.

When thinking about a family budget it is a good idea to have a goal, whether it is the purchase of a new home or a family holiday. This will be an incentive to save money regularly.

It is also important to separate out discretionary spending and items such as mortgage payments, utilities and car insurance that have to be paid. This will give an idea of how much money is available each month for extras that are nice to have, but not essential. Subdividing the discretionary spending can also help to focus attention on just how much is being spent. People who do not keep track of their expenses are often surprised to find out how much they really spend on certain items. Once you know where the money is going, you can set realistic monthly allocations for the different items.

Paying off debt

Paying off debt is important as if this is not done, not only can a lot of money be spent on interest payments, but there is also the possibility that debts could spiral out of control. The minimum payment should at least be paid each month and, if the debt situation is serious, consider getting some professional help to get the debts under control. Any debt counselor should be connected to agencies such as the National Foundation for Credit Counseling.

If possible a buffer should be established so that, if something unexpected happens, there is no need to go into debt.

Some experts on family finances suggest that a good way of controlling spending is to pay for items such as groceries, gas or pet supplies with cash as this forces an individual to recognize how much he or she is spending each month, and thus control their spending.

If there are problems with paying bills, then investigate if changing the billing cycle will help. Spacing out the dates on which bills have to be paid can help with budgeting and most creditors will make such adjustments.

Umbrella Company

An umbrella company can help with family finances, especially if some members of the family are self-employed. An umbrella company can handle much of the administration that is involved in running a single-person company. The umbrella company will take care of taxes and other deductions and each month the freelancer will receive a payment, smoothing out payments and thus making it much easier to develop a family budget and financial plan. Business expenses can also be claimed, such as travel, accommodation and meal costs.