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Solution to manage the family finances

Family financial plan. Image: fcac-acfc.gc.ca

Family financial arrangements for some people may not be an important thing to talk about when the wife of the husband's income per month is the level above the average income of other people, and maybe for some other colleagues again, maybe the family finances is taboo for discussion. But despite the family finances is not an important thing in the family, family finances is one vital thing in a family. There must be an orderly family financial management and proper coordination between husband, wife and other family members.

Now there is a wise tips and solutions to manage family money management as mentioned in some of the following points:


Set mindset together in family financial management.

Husbands and wives need to be compact in the family finances. Each other should take the time to sit down together, talking heart to heart and make detailed notes about the family finances. Disclose all the agreement will be what she likes and does not like. Give the mission vision as to what the family finances. There is no harm in reading the financial management of the family, but after reading several sources, remains to be understood and then arranged a family financial management framework, because each family has a unique structure of family financial management is not equal to one another.

Make a list of the estimated income and expenditure of the family finances. Either the husband and wife both work or is only one that works, preparation of estimate lists debits (income) and credit estimates (spending) will help provide insight to the husband / wife who prepare financial statements in family, family finances would be covered every month or not. The rationale of debit and credit points will help the husband and wife to go to the next point.
  
Make a list of the family's financial needs in stages.

Husband and wife should be with a great soul revealed and discussed what exactly constitutes "essential needs"; "requirement can be suspended"; "personal desire" and the other list upon mutual agreement. Make an estimate of funding / allocation of money in each of the list and always cross check back every month whether the allocation is correct / still need to be adjusted / probably wrong. Routine evaluation is mandatory and shared responsibility.

Arrange regular family finance journals.

On this point, even though the husband and wife is not from the field of finance / accounting, finance journals can be done with a simple family with just using books and stationery simple. The important thing is disciplined, organized and meticulous in every shopping transaction, proof of purchase receipt / anything related to family finances should be kept, given the mark and the date of the transaction. Wives in general are usually more thorough and regular in the administration of the family finances, but it is possible if the husband is working. Simply put, there must be a date column, column information, and debit and credit columns for later checked every end of the month / early next month.

Avoid consumptive activity, impulsive, and should be able to save.

The modern era stimulate more consumption because of all the retail stores and companies are racing to reach the market. Stimuli in the form of discounts, attractive deals, vacation packages and more so given that the crazy shopping. The problem that we all are not careful, to affirm all deals by not thinking clearly (impulsive) and relaxed faces as if there might be a problem in the back (I arbitrarily) alone, do not be surprised when our family finances will face fast / slow. Not skimp mental mental mental miser because frugality is for allocation of funds for the appropriate needs while griping likely perform a variety of ways to not spend money without thinking of the side effects.


Start saving and investing.

In terms of the economy will always fluctuate with inflation per year, yet the political, legal and social life will always affect the economy every day. Wheel of life is always spinning like the proverbial "One day we were on, one day can fall down". Saving and investing will help improve the family's financial reserves in the future without us knowing. Never underestimate any small money we have saved. We will never be able to guess when such a small money when saved with a backup routine will greatly help the family's financial future. Choose investments (perhaps in the form of life insurance, retirement savings and education of children) are safe, which is bona fide and that has been measured to credibility for minimal 10 years or older. Do not be tempted by the seduction of the interest and offers unreasonable for us to avoid all the dangers of bogus investment scams.

Always be ready to face the unexpected needs.

The world is not running like it is now without some things unexpected. The existence of grief as death, sickness, accidents and other bad things can happen to us anytime and anywhere without discrimination despite already married and wish to do our best without expecting any problems. This point should be addressed with the mindset when everything goes well, always ready with savings up to prevent the bankruptcy of the family finances. Husband never hurts his wife and children have life insurance and family financial education savings that can withstand the storm.

Long-term plan for the preparation of the future.

In excellent condition, husband and wife should have to plan ahead in the old days of what might be they want. All want the good things in the old days but it should be remembered, only relying on the kindness of God Almighty alone is not wise. Almighty God has given a gift of health, knowledge and wisdom, then do it with sincerity, surely we all will also receive the fruits of our hard work in the future.

Thus some points that if it can be a wise solution to manage all of our family finances. There is no standard formula that would run 100% right in the financial arrangements of the family, but we can do the basics and hope that the best will always come in our household.




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