Family Fun Time Is Important, Here’s How You Can Add It In Your Budget

Spending quality time with the family is important for everyone’s mental and emotional well-being. It’s also a great way to build happy core memories, bond, and get away from the pressures of daily life.

What’s great about quality time is it doesn’t always have to equate to expensive activities. The core of quality time is about creating lasting memories and strengthening bonds, after all. But once-in-a-while family outings or trips, if you can afford it, can make for great family quality time.

Here’s how you can make sure you factor family outings into your family’s budget:

Assess how you can add it to your budget

After you’ve set your quality time goals for the year, e.g. one nearby out-of-the-country vacation every year, or one beach/adventure trip per quarter, review your monthly expenses and identify areas where you can cut back. Remember that small adjustments, like dining out less frequently, can free up funds for family-oriented experiences.

Carve it into your planning

Once you have an idea of your available resources, set aside a portion specifically for family time. This could be a weekly, monthly, or even a yearly allocation, depending on your financial situation and family needs.

As a rule: SWOMO or save without missing out, meaning you can treat yourself (or in this case, the family) but still live within your means.

Have big-ticket long-term goals

Plan and save separately for more costly activities or trips you’d like to do. This might include setting aside a small amount each month into a dedicated ‘family experience’ fund. You can choose to invest this money in a short-term UITF or put it into a time deposit account so it grows while you save and plan for that big trip.

If you’re new to investing, you can start with the Earnest app. It offers a curated list of Metrobank UITFs that let you do more with your money, and it provides you with the education you need to maximize your investments.

In the end, crafting a family budget for quality time is more than just financial planning; it’s about building a lifestyle where your family’s emotional needs are met without compromising your financial goals. Let your budget reflect the rich, fulfilling life you envision for your family, where every peso spent brings you closer to the heart of what truly matters: the happiness and growth of your loved ones.

Learn more about creating a healthy financial foundation for your family:

• Creating a long-term family financial game plan
• Starting them young: how to teach kids financial literacy
• How to use a credit card to improve your household cash flow