by Kara I. Stevens
Is this the year that you will get your family’s finances back on track? Well, I hope you are not making the mistake of tackling the family finances alone. To bring prosperity to you and your loved ones, it needs to be a family affair. Here are 5 ways to involve the entire family in the family’s finances:
1. Start Having Monthly Money Meetings
Money can be a touchy topic to talk about in some families—if it is not talked about regularly and honestly. Schedule short monthly meetings with your family to discuss the family’s yearly savings goals, upcoming costs (i.e. vacations, surgeries, college tuition), challenges, and how that will impact day-to-day spending and long-term purchases.
BMWK – How do you get your kid’s involved in the family’s finances? Do your older kids think that parents are supposed to pay for everything, including their cell phone bills?
Kara Stevens blogs at FabulousNFrugal, a personal finance blog for women-of-color. Kara gives practical tips on all things girl power, wealth management, and juicy living. Connect with her on Twitter: @fabandfrugal ?
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