My Family Is A Mess Financially

Dear Sara,

My husband and I have three kids. We are in a mess financially. We both work but with daycare, car payments and house payment we seem to be going in the hole every month. This is so stressful and I know that the kids are feeling it too. I want to get back on track financially but it just feels impossible. How do I start getting out of this mess?


Dear Melanie,

The first step is wanting to change things and you seem to be at that point now. One of the foundations of a solid marriage and family is the ability to manage money. There is an underlying anxiety that the kids sense or feel because no one is in charge of financial responsibility. Your first step has to be to create a budget. You and your husband can start by writing down every single thing that you spend down on paper and start to find things that you can cut back on. Let your kids see what you are doing and show them what needs to be done. They need to know what the budget is and what they can expect. Dave Ramsey’s book, Total Money Makeover: A Proven Plan for Financial Fitness, has a step by step program for getting your financial act together. It won’t be easy and it may take a while but it will be worth it to be rid of all that stress.

Good luck.

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