7 Lucky Ways To Build Your Family Budget For 2010

What is your action plan for saving and investing? Do you have one for 2010?

Do you have a budget? Are you using your budget?

Are you seeking additional ways to either generate added money for investing or finding unique ways to save more money this year?

These are some of the suggestions we believe in for setting your own family budget plan and gaining more ground in terms of emergency savings, regular investing and retirement investing.

The question of most of us is this: How do I get there? It can be overwhelming to think about and saving and investing takes a long time to produce results, right?

At this blog, we are big believers in PEOPLE DEVELOPING THEIR OWN PLANS for saving and investing. You can encourage your own savings and build your own wealth one step at a time….if you begin now.

Here are some suggestions to start building your own plan today:

1. Know thy money. Where is your money going? Look at the last three months of spending. Like the big companies you and I know, review the last three months of your actual spending with the idea in mind that you are looking to reduce spending going forward by 10 – 15% and put that amount of money each month in savings (money market or certificates of deposit) until you reach your minimum for emergency savings.

2. Your emergency savings goal should be to build savings until you have 15 to 18 months of your expenses in savings (money market and certificates of deposit). Could you have less? Yes, in 1975. This is 2010. Do you know how long it may take you to replace your income?

3. Be honest with yourself about wants vs. needs. If you are not honest, this process (and any plan) will not work. If you really want to succeed in getting ahead, you must make room for saving and investing in your REGULAR life.

4. Become proactive with regularly saving and regularly investing (once you have your correct emergency saving fund for 2010). This literally means you must find ways to actively achieve more savings and more regular investing. Each paycheck you should dedicate a certain percentage of your after-tax pay to savings and eventually investing. This is the door to get ahead in the future.

5. Debt is the #1 killer of middle class families. Think reduce and eliminate. Start with credit card debt. If you don’t feel you have the tools to get it done, consult our “How To Survive Any Financial Crisis” at http://www.MiddleClassMoney.com or look at past blog entries about how you can deal with credit card companies and higher interest debt.

6. Make more payments. This can be done with any debt, but it is especially effective with credit cards and mortgages. Make more than your regular payments. Write a generic letter with a blank for the amount you pay each time stating that this is a principle payment only. Have an extra $100? Drop it in the mail to pay down the mortgage and send along this letter. You will make a big difference faster than you think.

7. Expect unexpected problems. They happen all the time. Have kids? Have a long way to travel to work? Expect little personal financial bumps. This is why we build a proper emergency savings fund for 2010 (see number 2 above).

Everyone likes to think that get rich quick happens. Sometimes it does, but it is not the way to bet.

Do you want our most important “rule” for saving more and investing more? Include your kids. Seek their creativity. Show them how important it is to save regularly. Show them you care about investing regularly. It will make a huge difference in their lives.

Remember the most important thing of all: Get started! You can do this!


If you think I was born saving money, you are wrong. My family is filled with hillbillies from Louisiana. There are members of my family that don’t believe in 401ks or IRAs. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
“Saving Money”


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