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do you help others with budgets?

July 27th, 2018 at 01:47 am

I have learnt to budget when our circumstances changed dramatically and we had to adjust...it took a long time but we are doing well I have taught both our daughters about budgeting as well one does better than the other, but they both do well with it.
My mom who is 80 this year had a few things break down over a year and she didn't have the cash to buy them so she did a rent to buy and her budget went out the window...so for the last 15 months I have been doing her budget, I tell her how much money she needs to take out of her bank for food etc and I deal with the rest, she will have no debt again by nov...she loves it as she has no hassles anymore and just takes her cash and does what she needs to with it (she is also raising a 12 year old that she has had since birth - long story) so she still has school related expenses etc.
Today my step son is coming over so I can help him write up his budget and help him menu plan as he is pretty bad at it (his words) so can get him back on track (he is getting a divorce and is raising their daughter)....I love budgets and helping others with them...I do think its important to show them how to work out debts and a budgets so they don't get back into bad habits, if I do it all then they won't learn or do the hard work. I do my moms as I pay her bills via my computer but we sit down and hash it out together so she is doing it as well.
Does anyone else teach their kids/spouses/partners etc how to budget or sit down and work it out together??...my budgets are written out annually so by sept/oct next years budget will be hashed out and written out ready to go

7 Responses to “do you help others with budgets?”

  1. melissalt Says:

    I am getting ready to help my mother with a budget. She's been horrible with money all her life, but before my father passed away they always had plenty of money to compensate for her lack of budgeting. She's in a mess now. I finally got her to agree to write down all her bills and minimum payments, and all her income and liquid assets, including the zillion little life insurance policies she has that could be cashed in. While talking last night, she said she doesn't like going without things she wants, so she's not sure a budget will work. Sheesh. This is going to be a challenge.

  2. Amber Says:

    I haven’t taught anyone per se but I do share my budget template that has the formulas already set up

  3. mumof2 Says:

    melissalt yes that will be a challenge and the problem is if she likes to buy things then it probably won't work as she won't stick to it...but worth a try it going to be a challenge for you.

    Amber that is great...if everyone learnt how to budget and live within their means the world would be a completely different place

  4. rob62521 Says:

    Fortunately have the folks who want to learn to budget. I have offered to help others, but most put it off. One friend, a couple of years ago, was so broke she couldn't buy her medicine for her diabetes. I offered to go over her expenses and help her budget, but she didn't want to do that. I also made her the offer of paying for her medicine because it was important. We both had decent insurance and I was surprised that it wasn't paid for except for the copay. She didn't realize that -- she was working another job and was using that insurance and her medicine was costing her a lot more money.

  5. Sue Says:

    I have TRIED to teach my kids to budget but they are both terrible with money. They had VERY bad role models growing up until we got our act together, so I think it is more of a "do as I say not as I do" thing with my kids. We have, at least, FINALLY gotten our acts together, are paying off our debt and putting money away...I hope they'll learn from the NEW us Smile

  6. mumof2 Says:

    Sue one thing I taught my children unless it was an emergency they pay for it themselves, no loans etc, f they had cars etc they needed to pay everything or not have it...it taught them really quick how to be better with money...if they don't have the money and no-one is giving it to them then they go without they will learn or end up in debt which they need to deal with...you have learnt through experience they might need to do the same thing.

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