Do you have a child who graduates a kindergarten, school or college or maybe even university this year?
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No worries, it doesn't have to devastate you and make you overspend money...
What you can do to be prepared?
Let's try Graduation Budgeting! 🎓
1️⃣ Decide on a realistic budgeting plan: how much will you be able to save money or earn/gain it it some other way. It should be enough to have a budget at least for three months ahead.
2️⃣ Decide together with your child what you need money for and what kind of things will you be able to afford? Is it the expensive ones or those that are more practical? Or maybe you can spend a bit more on something important, yet spent less on other things.
3️⃣ Start saving money for the big day by regularly putting money aside for it and sticking to your budget plan. If your child is the one who can contribute to this in any way - let him or her do it! This is just the way how to teach your children budgeting as well as it'll also prevent the to spend money on other unnecessary at this moment things.
4️⃣ Here comes the very important one (actually, all of these are important...). Plan your shopping and things you want to buy. When we buy impulsively, we usually spend a lot more money that we intended to. So keep your budget in mind and stick to it at all times. If you're impulsive by nature maybe you'll want to bring a friend with you who's more cool-minded. :)
Congratulations on your big day and let it be splendid! 🎊
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