Friday, May 6, 2016
May 6, 2016
by Dr. Kathleen Hall
May can bring lots of financial stress to a family. The month of May has many celebrations such as Mother’s Day, graduations, gifts for teachers, and the additional travel costs to graduations and Mother’s Day celebrations.
Have a family meeting and discuss all the expenses each family member expects for the May. Write them all down and follow the following tips.
Tips on Summer Financial Stress:
- A Plan. Create a plan, you will feel more in control and this reduces stress.
- Family Meeting. Get the entire family on board. Ask everyone in the family for creative ideas on how to pare down costs.
- Family Budget. Design a family budget with all family members. Have each family member create their own budget.
- Hope. Hope reduces stress and creates happiness. Teach your children that this valuable lesson as you move through these financial times; every obstacle is an opportunity. Openly discussing finances is a gift for the entire family.