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Budgeting Tips for Single-Income Families
Money Management Techniques from Stay-at-home Moms
By Dorothy Nelson
It's a good idea to include a savings plan as part of your budget. Whether it's 50 cents or 50 dollars a day, many of us tend to fall short when it comes to putting money away. But let's face it: Most people would agree that they feel more comfortable with some sort of financial cushion for unanticipated costs or emergencies.
Be prepared to reassess your budget regularly, or whenever there is a change that affects the family finances. Whether it's a debt that is finally paid off or you need to buy a second car, you will need to make adjustments to the budget.
Remember that when it comes to maintaining a budget, discipline is key and documentation is critical. If you keep good track of what you're spending – and saving – you'll feel more in control of the family finances.
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