 TITLE: How to Budget for a Family CONTENT: Make a Plan for Paying Down Debt\n--------------------------------\nIt's not unusual to have a good portion of your monthly budget go toward tackling past and new debt. When calculating your budget, it's important to account for debt payments because getting behind on payments can hurt your credit and make achieving your financial goals significantly more difficult.\nWhen you sit down to figure out your budget, make sure you understand how much debt you and your partner have, and create a plan for paying it off. You can take an aggressive approach and pay a lot each month to slash your debt, or you can take a slower approach and pay the minimum so you can also focus on saving. Your current financial situation and how much extra income you have to work with each month will help determine which route you choose. But be aware that stretching debt payments out will cost you more in interest down the line. END