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When struggling financially you need all members of your family on board with your efforts. There are 4 questions you can ask to help.
Generating income and lowering costs for the whole family is essential to overcome a financial crisis. But how? You can’t do that by yourself, even when you’re mainly responsible for your family’s finance.
If you want your family to be involved, know what you want to discuss before the family meeting, then arrange a formal meeting to discuss the new plans for your family when times are tough.
4 Questions to Ask Your Family
Is it possible to save money by giving up or changing certain activities?
During the financial crunch, depending on your budget, you will need to reflect on the purpose of your activities before deciding which one should be canceled. It is not a good idea to give up activities that will produce future investments.
For example, instead of buying things from your near-house supermarket, you may save more money with the unlimited FREE two-day shipping policy (no minimum order size) policy, or get tons of other discounts and coupons for the whole family from Amazon. In case you’re not sure Amazon is the right choice for you, you can always grab a free 30-day trial for Amazon Prime.
Activities to give up or change to save money topic are worth discussing with the family. Encourage other family members to speak out their opinions, and chances are, you can make a wise decision.
How can family members contribute their skills?
How can you utilize the skills of your family members to help grow your business or bring in more revenue?
Family members can also start side hustles if they have the time and skills.
Can outsourcing be done “in-house”?
Give notice and switch if you outsource tasks to outside help that you or your family members can do in-house. If your kids can’t help you with business jobs, what’s about housework such as cleaning, hair care, massages, and childcare. Consider paying your children a little severance. I think they’re excited and happy to take on.
What are some ways each person can cut costs?
Even if it is not immediately apparent, each family member spends some money on their care. Assess how much each member of the family costs and where they might be able to cut costs.
Before you cut something, remember to determine if it will have an adverse long-term effect. For example, a child who participates in sports as part of their scholarship should remain in those sports provided they can. Happiness should also be considered. Mental health is very important.
Getting other family members on board can be a fun challenge. Your 16-year-old son may be an excellent budget meal planner and shopper. New ideas will only reveal what is possible if you put them into practice.