One of the hardest things for me to do is stay on a budget - It's getting easier every year now that we are in one place and we have a better handle on our large fixed and variable costs - the mortgage, utilities and insurance, but with gas, food and other costs increasing significantly, Wayne having health issues AND Robyn starting High School, we've had to over run our budget the past few months and it's tough to change midstream, when you've been in a routine.
Wayne and I have decided to sit down and work out our budget and we're going to have to tighten our belts a little more than we have been. I know that we've been spending too much on dinners out and other luxuries... We've also had increases in our HOA dues, taxes and more to contend with... and that's just the short term... We only have three and a half more years until Robyn heads to University!
This article about how to talk about money with your spouse gives some great starting places on 'the big picture' and long term goals, which is something to consider when you're working on your short term budget. Losing sight of retirement and other long term goals can mean that they become less attainable!
We're going to sit down with a budget calculator, our past year's spending and a good attitude I hope! We are also going to be involving Robyn in the process so she can see exactly how the money flows at our house. How does your family deal with budget issues? Do you stay within budget regularly? How often do you revisit your budget?
Disclaimer: This post was written with information contributed by Genworth Financial.