Family Financial Planning, The First Step Towards Happiness
Finance becomes a very crucial factor and has never been an easy thing to manage, especially related to the household.
The reason is that finance is the main trigger for divorce besides having a third party, it is also a cause of high crime rates.
Then, how to manage family finances to avoid a deficit? Try applying the key to success below.
So that all income and expenses can be tracked and monitored properly, you need to make a monthly budget plan.
It doesn’t have to be complicated, you just need to allocate the money available for all purposes. However, don’t forget to keep it aside as savings too!
Formula 50:20:30 is the most widely applied. Simply put, from total income, 50 percent for daily expenses, 20 percent for saving, and 30 percent for side and emergency costs.
Even better if you record all income and expenses on a daily basis. If you do not have time to manually record it in a book, take advantage of technological sophistication.
There are many financial applications that you can use, or you can also do manual recording on a cell phone.
• Creating a Billing Calendar
Every month, you must be obliged to make payments or repayments for the use of electricity, water, repayment of house payments, or vehicle payments. Well, so you avoid additional costs, aka fines, you can create a billing calendar.
Make every beginning of the month and set a deadline no later than two days before the due date.
Making this billing calendar will help you be more mature in preparing family financial planning.
• Make it a habit to trade with cash
The presence of a debit or credit card will make it easier for you when you want to make a transaction, especially with the proliferation of online shops that are closely related to special promos at any time.
However, you should avoid dealing with credit cards, because it will make you become consumptive which results in swelling of the repayment bill.
Therefore, make it a habit to always use cash every time you make a transaction, or use a debit card that can only be used through an ATM.
Also, avoid using services like SMS banking.
• Monitor Expenditures
Already making a monthly budget plan and billing calendar does not necessarily make you hands-off.
You also need to monitor the financial condition, especially expenses. It is possible, you have unwittingly used a certain amount of money or made transactions and forgot to record it.
Even though the nominal is small, if it happens continuously it will make a deficit.
• Do a Simple Lifestyle
Last is doing a simple lifestyle in the family environment. Simple does not mean that you have to downsize which actually leads to stingy expressions and looks like someone who lives hard.
Simple means that you are good at using the money you have to buy things that only you need, not the things you want.