How To Use A Daily Planner To Organize Your Family Finances

Using a financial planner will help you stay on top of bills, avoid overspending, and save money. Without budgeting or tracking your spending, you may find yourself living paycheck to paycheck or not having enough money for unexpected expenses. There are three general types of planners you could buy: daily, weekly, and monthly. For busy parents that have a lot going on, STARTplanners have built in budgeting, goal setting and todo lists built in. To ensure you get the most out of your daily planner, we have explained below how to use it to organize your family finances:

Track the Amount of Money You Spend

You should develop the habit of recording all spending to make sure the family doesn’t go over budget. Allot a certain amount of money for each category of expenses, and send any money left over at the end of the month into your savings account. Saving extra money helps your family reach goals faster, whether for a college fund or vacation fund.

Our 2017 A5 Fancy Pants Daily Planner System is perfect to use for organizing your family’s finances. It features a monthly budgeting section and an accountability partners page. The planner also helps you to create meal schedules, track health insurance co-pays, and track spending on entertainment.

Store Receipts in the Pockets of the Planner

You don’t always have a moment to open your planner and record what you purchased. During those moments, you can store receipts in the pocket of your planner and record them later when you get a moment to. Not all planners come with pockets, so ensure the daily planner you buy offers the ability to store paper items. Our 2017 A5 Fancy Pants Daily Planner System has several pockets inside the front and back cover.

Set Financial Goals

Many planners have a goals section where you can clearly define your goals. Make good use of this section! According to Dr. Gail Matthews, a psychology professor, people are 42% more likely to achieve their goals when they write them down. This statistic is based on her study of 267 people from various countries and professions. She compared those who write their goals down to those who didn’t.

Plan for Retirement

According to AmericanProgress.org, approximately 50% of households won’t have enough money in retirement to maintain their standards of living. Some retirees rely on the government and charities to survive. To ensure you have enough money for retirement, you should include a retirement-related goal in your financial planner. If you’re new to planning for retirement, a common rule you can use to get started is the 4% withdrawal rule. According to this rule, you must save 25 times your expenses each year to save enough retirement money. If you only withdraw 4% of the retirement fund each year upon retirement, its own growth will sustain itself.

You can maintain a healthy financial life by using a daily planner to organize your family finances. Each day, you should record how much money was spent on what to ensure nothing goes unaccounted for. If you don’t track spending, you will wonder where the money went at the end of the month. A daily planner from STARTplanner also helps you stay focused on achieving your financial goals.

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