Yaaaassss! I’m so excited you decided to start a budget! This post is all about how to manage a budget at home successfully even when you’re super busy.
I used to think that budgeting created more work for me – and I suppose it still does. But I associated that work with frustration and wasted time. Instead, I found the opposite! Budgeting brings peace and comfort and confidence in our financial situation, whether good or bad.
That’s why I’m here. I’m here in this blogging world because I want to help families like YOURS start budgeting with confidence in order to help you to stop feeling terrible about your spending habits and to start living a more abundant life!
If you’re new to budgeting, I encourage you to start with the Beginner’s Guide to Budgeting as well as this Simple Budget Template Printable.
There are affiliate links in this post. This means if you click on a link and make a purchase, I might receive a commission at no additional cost to you.
How to Manage a Budget at Home Easy-Peasy
Before we begin, make sure you have a realistic family budget
I’m sure you already know this, but creating a realistic family budget will be your FIRST step to managing it.
If you ain’t got something realistic to manage, you ain’t doing nothing.
The hardest part is to just START. Take a deep breath and dive in. You’ve got this, mama.
All of the tips below encourage you to create and set solid budgeting habits. Like pennies, the little habits add up when it comes to budgeting to make managing the budget easy-peasy.
Remember, this post is all about how to manage a budget.
If you’re looking for a great Excel budget template make sure you’re factoring enough money for all your daily expenses and that you won’t be surprised by a small emergency, this is the one to start with here. <–It’s perfect for beginner’s new to budgeting.
Related Post: Best Budget Template for Couples [Excel]
1. Set-up a monthly budget party.
The first step to manage a household budget is to meet regularly to talk about it with your spouse. I recommend starting with 1 family meeting per month.
Notice how I called it a party? Well, do what you need to do to make it fun and you’ll look forward to it more!
During your monthly fiesta, discuss the next month’s budget and also discuss how last month went. You can talk about current goals, upcoming extra expenses like birthdays, any wins from last month and any areas of tension or frustration.
Try to keep it less than 30 minutes if possible, you don’t need to drag it on!
2. Reward yourself for sticking to it.
I learned from the Power of Habit that to really make a habit stick, you should have a new reward to yourself for completing a new habit.
If budgeting, frugal living, and saving money are new to you, then plan some simple, fun rewards!
Here are a few ideas:
- Go to a new coffee shop to discuss your budget instead of staying home.
- Plan a fun vacation that you’ll be able to do if you reach your financial goals.
- Reward yourself with a pedicure for a job well done.
- Even a simple reward going out to get ice cream with the kids could be a fun family reward!
3. Put your goals where you can see them.
Once you and your spouse have settled on family goals – post them out in the public. No, you don’t have to put them on Facebook. But you should put it somewhere you see every day.
Use your goals as a daily reminder and encouragement of WHY you are doing what you’re doing.
This will motivate you to make choices that better align with where you want your family to go!
4. Track your spending habits.
I’m kind of a budget nerd and started tracking my expenses back in 2012 and haven’t stopped since. I went through ALL of our statements for an entire year.
While I don’t think you HAVE to do this, it is good to start tracking them from now going forward. I use YNAB to track mine.
YNAB allows me to import all my transactions and categorize them from my phone. No hassle in getting out the computer. Plus, I can see how much money is left in each budget category (and so can my husband!) in real time! It’s kind of like #5 below, but on my phone.
I recommend trying YNAB for free for 34 days before you commit to using it.
5. Use the envelope system.
It’s proven that people are willing to spend more when they use their credit card instead of cash.
That’s why if you really want to crack down on your savings, grab these envelopes with Amazon Prime, and head to the ATM. You’ll be ready in no time.
I like that there are 36 envelopes in this bunch because I think the more detailed you can be on categories, the better you will be able to save money.
6. Create a budget binder.
While I’m not into paper documents (re: uncluttering your finances), sometimes paper can really help you get organized initially. And many people THRIVE with this because they get away from their phones.
Here are some ideas to put in your budget binder if you like the real-deal:
- Bill Payment Tracker – did you pay your bills every month?
- Bill Due Date Tracker – can’t remember when that utility bill is due every month? Write it down.
- Debt Tracker – Track your debt so you can see how you’re doing
- Monthly Notes from your family budget parties – woohoo!
- Daily Expense Trackers – track your expenses the old school way – like a check log.
- Binder Zipper Bag for receipts – throw in your receipts for the month and reconcile at the end of the month
You can even throw your budget binder in the car, so after a purchase, all you have to do is log the purchase on your log and then add the receipt to the zipper bag in the binder! Done!
7. Log expenses daily.
The ONE habit that really made a difference for me when we first started budgeting was logging my expenses daily. Since I used YNAB, it was super easy to do because I could log my expenses right after leaving the store and it would auto-sync with my budget.
But, if you have a husband who doesn’t do this (ahem, me), you’ll also have to check your accounts for any other purchases.
Instead of scrolling through Instagram stories while I was waiting for something, I would just quickly log-in to my bank accounts to see if there’s any new charges. And then I would categorize those and write them down.
It only takes a few minutes every day if you spread-out! Once again, give yourself a reward when you do this for a week straight.
Note: YNAB allows you to import transactions now straight from your bank (totally secure!), so you don’t even have to go to every bank! You just categorize the imported transactions from the app on your phone!
Ready to try YNAB yet? 😉
8. Set-up auto draft.
In this case, the banks are your friends. I love auto-payment and auto-draft. I don’t have to worry about paying any of my bills on-time. I simply make sure there’s enough money in my account to cover the bill and then I don’t have to worry about a thing!
It’s so freeing not thinking about it all the time! We do use credit cards to pay most of our bills because we want the points, but that’s a post for another story.
9. Brainstorm ways to save money.
Sit down with the family and brainstorm ways you can save money each month! It will teach the kids a little about family finances, and will get you and your husband on the same page as well! Try getting a big poster board and write down all the creative ways you can have “no spend” days.
10. Try to make a little extra money on the side.
If you’ve squeezed every last penny out of your income and it’s still tough to make ends meet without using a credit card, then consider trying to make a little extra side income each month. You can try filling out surveys for quick cash each month or try one of these side hustle ideas.
11. Meal-plan before you grocery shop.
I’m sure you know that groceries and food can eat up a huge portion of the budget (pun-intended). I save SOOO much money each month when I actually meal plan and ONLY buy what’s on my list.
I end up bringing coupons, planning around sale items, and using up leftovers that are in my fridge when I actually meal plan.
We spend about $500 per month on groceries for a family of 5!
12. Create a vision board
This is also a fun activity to do with the kids! Grab a poster board and some magazines. Think about what life would be like when you are debt free, not worried about money, and meeting your financial goals.
Now, look through the magazine and pick out all the pictures that have to do with this. Create a collage on your poster board as a family. Post this board somewhere to remind you of what you’re dreaming of!
Share a picture of your vision board below!
The last thing you need to know about budgeting from home…
Be flexible yet consistent! If you just do a little at a time, you will eventually get there! But be willing to be flexible with your budget. Unexpected things will come up. Instead of getting angry or frustrated, roll with it, and you’ll be back to your best budgeting self next month.
Sweetie, I’ll be honest with you. Setting up your budget the way you want will take some time.
That’s why I help you out by providing this budget template to get you started. It is OK if this takes a few hours the first time to set-up. Once you have it set-up, there will only be minor tweaks here and there and it will be SOOO much easier to maintain. Especially as it becomes a habit!
Give yourself some grace in the beginning. You will likely make mistakes, but it’s the getting back up from the mistakes that will truly make the difference.
