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Tips to Keep a Family Savings Program

Whether it is eating healthy, doing homework every night or saving money, it can be easy to get off track. How do you stay on track with a family savings program? After all, your family worked hard to get this set up. And you got off to a really good start. But then…life happened.

Life does happen. As with any program or goal that is a longer term one, it can be rough to keep it on track. The key is to have a flexible plan that can be changed without losing sight of the goal you set. Try some (or all) of these tips to keep charging forward on your family savings program.

* Review your plan and make sure that it still works. Was the goal you set too big or too small? Or is it something that just isn’t as appealing anymore? You may need to set a new savings goal that will get your family excited again. Is the family having a hard time remembering to put money into the family bank? Consider moving it so it’s hard to forget to put money into it. Once it becomes a habit for everyone, you can rethink where you put it but at the beginning it needs to be very visible.
* Remind yourself (and the rest of the family) why you were saving in the first place. Pictures on the fridge or bathroom mirror are great everyday reminders of this. It might sound odd - but it does work. There is something about vivid pictures that help the mind focus on the goal better than words on a page. You can also decorate your family bank with a picture of your savings goal.
* Make a chart to track your progress. Have you ever seen the thermometers that mark larger company or community goals? Many of these look like thermometers that get colored in as the goal get closer. It can be a great motivating way to show progress. Have family members take turns counting the savings and charting the progress.
* Set some silly goals and make a game out of it. It can be hard to stay focused and motivated week after week even when there is progress being made and you can see it. Lightening things up a little can help. One week come up with a game or offbeat idea that still helps with your family savings program but puts your focus on something a little different. For example, issue a challenge to see who can save the most nickels that week or who can find the most coupons to save the most at the grocery store. Make it something simple and doable so it doesn’t become just one more chore.
* Reward yourself. It is hard for most people to have only a long-term goal with no rewards in the middle. Here is where you need to know yourself and your kids. If you need to buy something each week, do it. Make it small but make it part of your plan. Otherwise, you could sabotage yourself down the road - and it could make it even longer to reach your savings goal. For example, if your goal is have a full day at the water park with all the goodies, one week you might buy a big tote bag or sunscreen. Keep it relative to your biggest goal, though, and don’t spend the entire savings on that one item.

The key to all of these hints is to taking an honest look at what has been working and what hasn’t. Don’t be afraid to adjust any of your ideas and goals and then move on. Most people don’t get it right the first time - or even the second. As long as you focus on making progress and improving the family savings plan, you are on the right track!

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copyright CCM Funding 2009 Production

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