Family Finances

Column Day. This week I get into managing money as a family. As you can probably imagine, raising a family of six isn’t cheap. But I share a few tips we’ve picked up on saving money and sticking to a budget.

Once again, my wife deserves a lot of the credit in this area. Mostly I just make money and she figures out where it goes. She has spreadsheets. For everything.

One easy way to save that I mention in my column is simply cutting out cable TV. Coincidentally enough, a fellow Herald columnist wrote yesterday about his family’s first year of cable-free living. He saved more than $100 a month by dropping cable. Over a year, that’s like an extra mortgage payment.

We’ve never had cable. We watch a few TV shows online, and sometimes we borrow seasons of shows from the library. It means being slightly behind the times — we’ve only recently discovered that Modern Family is hilarious — but we save a fortune.

The other thing I think is important when it comes to money is to give some away. It’s easy to look at the bills and think you don’t have enough, but I always try to keep perspective that we have more than the overwhelming majority of people in the world, and more than a lot of other North Americans as well.

Being generous is more a state of living than a condition based on what’s in your wallet. And I think it’s actually good for us. Money has less power over us if we don’t hold onto it so tightly.


One response to “Family Finances

  1. Hi Chad! It’s Jenn Greer. Steve and I read your column each Monday and it seems like you are writing directly to us! Ben is 2 1/2 and Josh is 3 months old and we are potty training, dealing with financial changes and, well, we just love your column. Thanks for making us feel normal. Have a great weekend and we look forward to Monday’s paper!
    Jenn and Steve Greer

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s