Have You Ever Had a Family Council on Finance?

We have found that when we have family council we strengthen our family unity as well as stay on top of all that is going on with members of the family!

Here are some of the other things you may wish to discuss in your family councils:

• Calendar of events
• Home improvement and maintenance
• Meals and menus
• Family rules
• Individual activities and recreation
• Work schedules and job lists
• Goal setting

Sunday afternoon or Saturday morning first thing have been the best times for us to hold family council. You may  to try a few different times to see what works best for your family!

As you share what is important to you and plan the week’s activities, it will bring peace and confidence to your children.

Family Councils are the best place for strengthening inter-family relationships, but there are a few guidelines that you will want to keep in mind:

• All must agree up front to listen carefully to everything that is being said.
• No one is allowed to interrupt, attack, cut someone off, or criticize before it’s his or her turn.
• No one is better or more important than anyone else.
• Everyone is treated with respect.
• Family members can learn to know and to love and appreciate one another when they know that their thoughts and ideas are being heard by others in their family.
• Have TREATS and keep it FUN! Treats and activities just makes it a lot more exciting for the kids – OK maybe for the adults too! (The cake above is courtesy of my daughter Clarissa, author of “Cooking with CC: Sweet Treats and Bake Sale Secrets“)
• Consider rotating who is in charge of the different parts of the family council so that every one in the family gets a chance at leadership and public speaking!  Don’t worry if it isn’t perfect! Just get started!

Family councils focused on finance can be especially helpful when it comes to unifying the family about money as well as educating on financial literacy and best practices with regards to money, credit, investing and more.

Topics to Cover in a Family Council on Finance

• Review each week’s major expenditures and write down what has been spent each month. Total up each area of expense like food, clothing, travel, car and house payments, recreation, savings, miscellaneous, and charity.
• Make lists of future needs of your family as well as the wants of each one. Decide which ones will be purchased first and an approximate time for others.
• Determine outstanding debts and how the payments will be made.
• If too much is being spent in one area, talk it over with your family and get their ideas about how the family can change their spending habits.
• Talk about how your family might be able to earn more money.
• Review the plan each month and set new goals.

Will you do me a favor? Will you hold a family council on finance?

After you have done it, will you share your results and feedback the Raising CEO Kids community?  You can share it on http://Facebook.com/RaisingCEOKidsFans