Financial problems are common in young families, especially in the first years of family life. Not to mention the little one soon comes in the middle of you and your partner. Is it true that the problem lies with the large-small family income?
Often the problem is not lack of income, but the wrong habit in managing money. Apparently, in fact, a father who earn thousands of dollars could be in shock when he found the money to live is $500,00 before the end of the month.
This is some simple keys to managing family financial:
1. Understand your family's financial portfolio. Do not be blind about the saving amount, the electricity bills, telephone, car service, shopping, doctor's and other expenses. You have to know how much credit card debt, bank loan or mortgage and car.
2. Develop a financial plan or budget. Realistic financial plan helps you be objective about excessive spending. No need too ideal, so forget your own needs. No harm in entering need to go to a salon, spa or clubbing. Importantly, the budget should be realistic and you also must comply with the budget.
3. Think more thorough understanding between the "need" and "want". Quite often we spend money for something that is not too important, or just driven by desire, not necessity. Make a list of tables consisting of columns for shopping items, needs and desires. After filling the column shopping item, fill the "needs" and "wants" with a check mark (V). From here consider a more mature, things you need to buy / fill or not.
4. Avoid debt. The temptation to consumptive live is greater. But that does not mean you easily purchase various items on credit. Grow a healthy financial habits starting from simple, as no consumer debt.
5. Minimizing consumer spending. Meet old friends to exchange ideas in a cafe sometimes necessary, but it does not mean you have to do it on every Friday afternoon. You can use these expenses for saving or meet other needs.
6. Set financial goals. Arrange the financial targets you want to achieve on a regular basis, with your partner. Set specific, realistic, measurable and within a certain time. This goal helps you focus more on designing your financial. For example, aspires to have the funds preschool education of international standard and so on.
7. Save, save, save. Change habits and thought patterns. Immediately after receiving a salary, set aside for savings in the amount you had planned on purpose or goal of your family financial. Instead, you have a separate account for savings and daily necessities.
8. Invest! Sure you will not be satisfied with just waiting for the savings soar. And your goals for the family is high. This is the time to also think about investing. Now, there are many investment form. Fear of risk investment?! No need to worry, you just need to learn to the experts. Consult your investment plan with the financial expert.