To be able to manage finances personally one needs to be very careful with the amount he spends, make deliberate effort to stick to a budget and also make provisions for savings, now when it comes to family it becomes pretty hard to manage because you have to account for different people and also try t meet their expectation.
When it comes to managing daily finances, you have to make a budget, there is no any way around this, there should be a list of what you consume on a monthly basis, ranging from food, fees if there is any kid, gas and rent if you not own your home, after making a budget the next thing to do is to cut off the non essentials and make the budget solely based on needs if the family have a limited income.
Also in family budgeting there should always be room for excess, there can be casualties through out the month, a child can fall sick or get injured, if you do not have an active insurance then it will be hard to handle.
Finally, couples should be able to find a way to augment their income to be able to upgrade their standard of living.
When it comes to managing daily finances, you have to make a budget, there is no any way around this, there should be a list of what you consume on a monthly basis, ranging from food, fees if there is any kid, gas and rent if you not own your home, after making a budget the next thing to do is to cut off the non essentials and make the budget solely based on needs if the family have a limited income.
Also in family budgeting there should always be room for excess, there can be casualties through out the month, a child can fall sick or get injured, if you do not have an active insurance then it will be hard to handle.
Finally, couples should be able to find a way to augment their income to be able to upgrade their standard of living.
