One of the most important things in a young family’s comfortable lifestyle is a good budget. That’s right, a good budget.

Before you scream in horror, please realize that a budget is actually a good thing.

Why? Because a budget is simply a plan that contains your family’s monthly income and your planned out-go. When one can control their budget, they can control their life.

Unfortunately many people think that a budget means that fun times are no longer allowed. True, a budget might indicate that “fun times” have become more important than commitments—why the car payment is always late or why the family credit is questionable.

But if you are honest, you will admit that control of these issues is an incredibly freeing experience. So, to gain the financial upper hand, a good budget should be at the top your list.

First: Income

Make sure that all income is recorded; this should include regular paychecks from any regular work, as well as a small side-business or interest from investments, etc.

Second: Vitals

This part contains items absolutely necessary for the welfare of your family, such as house payments, utilities and food. In tough times, this area is the one to consider for a possible payday loan from a viable company, such as Plain Green Loans.

Third: Commitments

This includes any other important payments, like that car.

Fourth: Savings

That’s right, savings. Make it a habit to sock 10% away, no matter what. Open an interest-bearing account and put 10% of any income into that savings account. This is non-negotiable.

Fourth: Fun Expenditures

Now budget in the movie fun, Mom and Dad’s night out, etc.

Do this faithfully and you will realize that not only are bills paid on time but “fun times” actually increase.

And that’s called smart.