Disclosure: I continue to live by these rules. I do not have any debt. My home is paid in full. I have no credit card debt. I do not have student loans after finishing college.
It is so very important to get on a simple budget.
If your child(ren) have debt (i.e., phones, etc.) they need to be on a budget, no matter their age.
Everyone in the household need to be involved in the budget process. Be at the table when bills are being paid. Don’t be a victim of your own making. Know what’s going on in your home financially.
First, apply all the pretax programs to your salary/income you can find. TransitChek/Commuter Benefit (CBP), Flexible Spending Account (FSA), Health Savings Account (HSA), Health Reimbursement Account (HRA), etc. You will receive the taxes (not paid) in your paycheck. Use that cash to build your emergency fund (EF).
We have simple tools to keep you accountable. Contact us.
