Lovely Day with the Family

All of a sudden, you find that your kitchen appliances are out of date. It all seems to happen at once. It is just a matter of which one is on its last legs the first. This is any homeowner’s nightmare. Does it sound familiar? You have owned your home for a decade and everything goes to pot. What’s more, you haven’t saved enough for a kitchen remodel.

At best, you pick one appliance for replacement—and it is likely to be the least expensive. For me, right now, I want to get a new food vacuum sealer for my kitchen. Over several months, you find that they are all new and your bank account is sparse. So much for advance planning. I always counsel people to start day one when they buy a house and expect the worst. This way you will not be caught short. You are so taxed financially that you can barely afford a new electric knife. Speaking of this, I do have a good one and have allowed my son to learn to carve a ham. He loves the responsibility and is quite good at it. It makes me proud to see how grown up and mature he is now. The joy of a family is to watch it evolve and flourish.

Many of my clients have big families and while it is hard on the budget, it makes them supremely happy. The dinner table is full of conversation and the house is always laden with good cheer. Children bring such joy that it is immeasurable. The question is always to find the funds to give everyone what they want and need. What comes first? The kids or a new stove? It is a tough decision, but I often vote for family. Most times, new items are required and can’t be delayed. Use your common sense to help you master the maze of personal finance and learn how much to allocate to basic household categories. I know people who bought used appliances as a stop-gap measure until they could afford new ones. There is always a solution if you are creative.

A home is often the biggest burden on family finances. You must contemplate carefully when it is a good time to buy and if you need to spend a given amount to satisfy your long-term needs. If you stretch yourself to the limit, you will pay the price down the road. You can find a less expensive neighborhood even if it is not your first choice. Parents make decisions based primarily on neighboring schools and parks, but there are times when you want to give more direct attention to the actual house itself. More bedrooms means you can accommodate your family comfortably but it also adds to resale. If kids can walk to school, it is a big bonus. There are many considerations so don’t hesitate to consult a realtor or finance expert to learn all the ropes. No one has to go it alone these days with all the information available.