Budgets. Yes, budgets. They’re often the least favorite household chore. In fact, according to a Gallup poll, two out of three households don’t even have a budget!
Yet if you want to homeschool, I find budgets to be essential.
Why Are Budgets Essential for Homeschoolers?
You’re Likely A One-income Family
If you homeschool, you’re likely a one-income family. In our family, my husband brings in 89% of our monthly income; I bring in the other 11%. We’re not entirely a one-income family, but we’re pretty close. That means money is often tight, and we need to budget to make sure that we have enough money to cover our expenses.
I’ll be honest here. There are some times when I think to myself, if the kids were in school, I’d be able to work part-time or full-time and make additional money for our family so it would be easier to meet our financial goals.
However, as long as we keep and follow a budget, I’m blessed to be able to stay home with my kids and teach them. I love this time I get to spend with them! For our family, homeschooling works because we get to take vacations around my husband’s schedule, we sometimes get to go to conferences with him, and we can teach our kids at their own pace.
Without a budget and a firm financial plan, some homeschoolers have to make the difficult decision to put their kids back in school so that the homeschooling spouse can return to work and alleviate financial stress.
Homeschooling Can Be As Expensive Or Cheap As You Make It
Another reason why a budget is essential is that it is very easy to spend a lot of money on homeschool curriculum. If you are a curriculum junkie like I am, being tempted by the latest and greatest is very easy. If you’re not careful, you may have excess homeschool curriculum filling storage tubs and book shelves.
A yearly homeschool budget can help motivate you to carefully research the homeschool curriculum you’re considering using as well as motivate you to buy during sales or to look for cheaper places to buy the curriculum.
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You ultimately have to find the budget that works best for you. We’ve been using YNAB (You Need a Budget) for three months now, and we really like it!
This post is part of Blogging through the Alphabet, Letter B, hosted by A Net in Time and Hopkins Homeschool. To read more posts focusing on a topic starting with the letter “B” click on the button below: