With the rising costs of homes, oil, food, healthcare, and college; it’s a wonder how anyone can save enough money to ensure there is sufficient funds to cover all of the necessities in life.  Even with moms and dads working full time; living from paycheck to paycheck seems to be the norm rather than the exception for many families.

This report will outline suggestions on how to set a budget and stick to it; teach children the value of money and how to save; and tips on how to invest for your children’s college education.



According to statistics, an average family of four in the US needs an income of $52,000 or more to live comfortably. In addition, college costs have risen to $40,000 to $100,000 or more, depending upon the college and state you live in and whether or not your child is boarding at the school. Health care is another issue which, unless you are covered by your employer, can literally break the bank if you become ill. Housing costs have risen at an alarming rate, and according to the Federal Housing Bureau, although home prices as of 2004 have hit the $264,000 mark, we know today they are more in the neighborhood of $500,000 and up. Rents have skyrocketed due to high fuel costs, and except for rent stabilized apartments, one has to wonder how anyone on a fixed income will survive.

However, with so much to think about, and in some cases; worry about, let’s move on to budgeting for families and try to come up with solutions that make sense.
 
The American dream for most families has always been to own a home. Today, however, it is more about survival.  Whether you own a home or rent, the concerns are the same. Do I have enough to educate my child? Is my health insurance enough to cover my family in case of illness? Can I pay my bills each month, or do I have to ignore one to pay for another? Will I have to borrow from Peter to pay Paul?

Most of us have asked these questions over and over.  Many sleepless nights have us contemplating the all too familiar question: How can I keep up, and still take care of my family? Recommended: Mom's Talk Network Guide to Family Budgeting