The Most Common Family Budgeting Mistakes to Avoid

A BUDGET PLAN IS PART OF THE SOLUTION   Trying to stretch your family’s income to cover the full month can be a tough task. However, you can give yourself the best possible chance of doing so by avoiding some of the most common budgeting mistakes. These mistakes can range from being too optimistic, to not being optimistic or ambitious enough. You could make your family budgeting schedule too rigid, but you could also make it too complicated. Simply put, if a budget is unrealistic then it simply won’t work. With this in mind, let’s look at some of the potential problems or mistakes mentioned above and see what we can do to avoid them.   Being Too Optimistic   It would be fantastic to be able to put a big lump sum into our saving accounts every month, wouldn’t it? This way we could very quickly build up a very nice sum of money in our accounts. Having said that, for most of us it simply isn’t possible to put away as much money as we would like to each month, so if you try and save more money than you can really afford then the risk is that […]

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