Page 20 - Book3E

12
1. Pay yourself first. This means you set yourself up as a creditor and make a payment to your savings account every month before you pay anyone else. It is difficult to save if paying all of your other expenses comes first. Make the payment to your savings account and then pay your other bills. Saving may never be easy for you, but it can become a habit over time. The habit is firmly established once money is being regularly deposited in a place that pays you interest, making you wealthier in the process.
2. Pay your bills all at once. If you are paid semi-monthly, pay your bills semi-monthly. Include some rewards in your budget. The old adage of “all work and no play make Jack a dull boy” will happen if you don’t have some incentive to stay on track.
3. Use budget forms. Budgets are seldom effective if they are not written down. The forms provided in this volume are one suggestion. Research the forms available in your local office supply store or create your own forms. Many forms can be downloaded off the internet for your use. You can access budget forms on our website, www.ffef.org. The most important thing is that they work for you.
4. Purchase a one-book system that outlines a budget for you.
These are available at any office supply store and may help you create a budget without feeling overwhelmed.
5. Discuss and agree together upon future large family purchases.
Plan a family meeting in which everyone in the family participates. Set it up so that no one feels pressured into a decision. Each person must be able to see the benefit and possibility of saving for large pur- chases together and be willing to sacrifice to make it work. Education, vacations, and remodeling can be included in these long-term plans.
6. Arrange to pay your utilities on an equal payment plan. Divide your total payments for the year into twelve equal monthly payments. This will help you know what to expect in your budget so you can prepare accordingly. Once you have done this for a year and know what to budget for, you can return to monthly billing if you prefer.
Measuring Your Current Progress