It’s tough enough to budget when you’re single. It can be even harder when you have a family, even if you have two incomes instead of one. However, budgeting can free you up in a lot of ways as well. When you have a clear picture of where your money is going, you’re freed from the constant nagging worry that asks, “Can we afford this?” The tips below will help you approach budgeting as something that improves rather than hampers your family life.

Work With Your Partner

If you’re a single parent, this won’t apply, but if you have a partner, you need to get on the same page with them regarding money even if you start from two very different places. For some couples, this could be much easier said than done. Issues around money often aren’t really about money at all but can have more to do with how families of origin managed finances or with individual values. They can also tap into concerns about security or independence. 

If you’re coming from two very different places regarding finances, it’s not a bad idea to work with a counselor as you better understand where you’re both coming from. You may both need to compromise, with each person agreeing to spend or save a little more than they’d like. You may end up with a shared account or separate accounts. But you need a solid foundation that you agree on, even if it causes a little bit of discomfort for both of you.

Plan for Medical Care

Medical care is one of the biggest worries and biggest expenditures for many families. Whether or not you have health insurance, it can be tough to cover these costs. Maybe you have a high deductible, or maybe you need procedures that aren’t covered. Healthcare organizations aren’t doing much better with the current system, in which they are struggling with billing department costs and bad debt. 

Fortunately, there is a solution. With payment plans, providers can get paid, and you can get the care that you need for your family. You can pay this off over several months. Utilizing Cherry options as a payment plan company can cover a variety of medical expenses, including dermatology, dental and orthodontics, plastic surgery and medical aesthetics. In addition, if you have pets, there are payment plans that can cover their unexpected veterinary expenses as well.

Create a Family Budget

Your kids don’t need to worry about the mortgage or this year’s tax bill, but making discretionary spending a family affair can be a good way to teach them about money. Younger kids can start by helping to select among several choices at the grocery store or whether they’d rather spend part of an entertainment budget on pizza or a movie. When they get a little older, they can help with parts of the family vacation budget. Giving them an age-appropriate allowance is another great way to teach them about saving, spending and budgeting.

Set Goals

Goal setting is an important element of family budgeting. You’ll need to start by tracking your spending. There are many ways to do this. You can jot down all transactions on paper, note them on your phone, use a spreadsheet or get a budget app that breaks it all down for you. The method is less important than your accuracy. Once you have a handle on your spending, you can start thinking about goals. 

You should start with an emergency fund if you don’t already have one along with paying down debt. Maybe you’re saving for a house, a family trip abroad or your kids’ education. Maybe you want to retire young. Knowing how much you’ll need to meet those goals and how long you must reach them, you can calculate what you need to put away toward them each month.

Consider a Financial Planner

This is a slightly tricky piece of advice because people often use the job titles financial planner and financial advisor interchangeably. However, financial advisors tend to work on building wealth and investments. Financial planners are usually more focused on your overall situation. 

A good financial planner can work with you on budgeting, retirement planning, estate planning and similar issues. If you’re struggling with figuring out whether you’re better off paying down debt or building an emergency fund, a financial planner can help. Not every family will need a financial planner, but if you’re feeling out of your depth and overwhelmed by trying to manage money, this can be a good option.