doesn't have to be dreaded words.
Defined, frugal budget means an estimate of expected income and expenses.Simple enough, right?
Businesses have planning objections. Why don’t many families go through this process? Most people over think it, tell themselves they don’t have the time, or are unrealistic in their expectations.
The first step is
What is your goal?
What are your family’s goals?
Get the whole family is involved in this process.
Choose realistic objectives
Prioritize your goals.
How do we do this?
Let me give you a little help.
Think in terms of time.
First, what are your long term goals and aspirations for the next 10 to 20 years?
Examples would be paying the house off, college for the children
Second, decide your goals for the next five years.
Examples would be buying a car, home improvements, and family vacations.
Last, write your goals for the next year.
Examples would be paying off credit cards, building an emergency fund, or as simple as buying a power drill.