How to Have a Peaceful Family Budget Meeting

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Posted on 07/28/2014

Family budget meetings can be about as enjoyable as hanging out in a hospital waiting room. After all, there's a good chance most of those in attendance would rather be just about anywhere else. But it is possible to make these necessary meetings peaceful and even enjoyable if you follow these tips.

Schedule in Advance
Go ahead and schedule your monthly meetings for the same day each month. That way no one will be surprised about the idea of setting aside time to talk about finances. And you're less likely to have scheduling conflicts when you plan ahead.


Do Some Prep Work
Make sure you begin your family budget meeting prepared. That could mean having access to information about bills and debt handy. Print out free budget planning sheets like these from the-modern-dad.com to help you move through the process in an organized way.


Forget About Individual Goals
Your goal may be to add new shoes to your closet while your loved one wants to take up an expensive hobby. Bring your list of "wants" to the meeting and work together to prioritize them. But if it doesn't fit into that month's plan don't get upset. During family budget meetings set your personal goals aside and develop a common vision for your family's financial future.


Keep It Brief
Chances are the person planning or leading the family budget meeting won't mind if it lasts longer than a feature length film. But not everyone at the table will likely agree. Try to keep family budget meetings as short and sweet as possible. This gives less of a chance for tempers to start flaring and moods to go south.


Limit Distractions
Turn off the TV and put your phones in the other room. If you want to get through your family budget meeting quickly it's important to limit distractions and stay focused. And don't dare have a budget meeting until everyone is well fed.


Take Time to Dream
What will you do when you pay off all your debt? Make sure your budget meeting isn't all numbers and dollar signs. Take time to dream about what your financial future looks like once your debt disappears and that savings account for a vacation, car or home is fully funded.


By Alison Storm


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