The Importance of A Family Budget

Budget - is a plan as how family income should be spent

In budgeting, one considers the size of the family, its income, the needs of the family, and the locality where the family lives. Only when these factors are considered can the family have an Operation Budget.

Operational Budget - is a plan of family income is to be spent to provide for the family needs w/o incuring debs or deficits.

Saving - can grow in the from of investenant investing by putting your money into same thing that offers good profit will increase the income of the family.

To make family budgeting a faithful an satisfactory task the ff. pointers should be keep and mind.

1. Know your income

2. Determine your fixed and flexible expenses

3. Base the budget on a system of priorities

4. Have a record of expenses.

5. Make allowances for savings

Most Important

1. Food

2. Shelter

3. Clothing

4. Education

5. Household Operation

6. Utilities

7. Medical & Dental Care

8. Rest and Recreational

9. Savings

10. Jewelry