Archive for May, 2011

Family Budget

Wednesday, May 11th, 2011

“The average family exists only on paper and its average budget is a fiction, invented by
statisticians for the convenience of statisticians.”

Sylvia Porter

Unlike the quote provided above, seemingly reflective of general opinion on family budgets
today, we will attempt to take a much more positive approach to budgeting, as a family
oriented, user-friendly, financial management and planning tool and life-enabler.

However, when reflecting on family budgeting and inquiring as to why not more families are
actually using it, it becomes self-evident that similar skepticism runs rampant and deep in reality
and society, even globally so.

Once you start probing family budgets, expending time and energy researching the subject in-
depth, it becomes quite clear, that most families are caught in a vicious, almost never-ending
cycle of “What comes in must go out.”

Most families might feel that budgeting is a futile effort, unnecessarily burdening them with
thoughts and ways, to go broke methodically and slowly, without the creature comforts and
indulgences of our human modern-day society.

Others might voice that they feel as if they are merely throwing money away, in a never-ending
and dizzying spiral of spend, spend, spend. People are getting deeper and deeper into debt, no
matter how hard they try to get out of it. Questions are then raised : How do we stop these
courses of action? How do we change the thinking around family fiscal discipline?

Put simply, in “How to set up a Family Budget”, we focus in on how to empower families to set
up better, more realistic budgets, stick to them and celebrate their successes (and learn from their

Families eventually do have a monthly surplus, see their savings start to grow, consolidate their
debt, set aside discretionary funds and personal allowances, build their wealth and become more

aware of their pro-active involvement and responsibility regarding their lives and finances. This
is when excitement builds and fundamental thought patters as well as spending attitudes are

Budgeting is seen as an accurate measurement of success when significant behavioral
transformation is taking place on the landscape of the family budget, spending habits and
financial patterns we observe over time!

Pensions Advice