When you start your little family, it turns out that not everything is as easy as you might imagine. Many things must be thought in the more mature way. Especially on the issue of regulating family financial. You have to change your mindset. Now you have a family that money is shared between the two, you can not use it as well as when you are still single. No matter how much you earn there are some people who still short of cash at the end of the month. So, the main problem does not lies in how great your earnings, but how smart you set them up. Planning the family financial looks very hard to do. Here are some easy ways to organize your family financial.
Calculate The Cash Flow
The first step you should do to organize your family financial is knowing how much money you have from your income and how much expenses every month. Such as the electricity bill, telephone, health cost, monthly spending, even the cost of vehicle’s service. Then you also have to calculate the amount of mortgage and credit card debt. By knowing all of this, you can calculate all the expenses and take out things you have to remove.
Planning Your Family Financial
Once you know all your expenses, then you should make your family financial planning. Arrange all the money you’ve got, how much you will use and how much you will save it. Make a realistic family financial plan where you could match. Don’t forget to put the funds for traveling or fun as a part of your family financial plan. Because you still need to have fun with all the money you’ve got.
As well as organizing your personal financial, saving is an absolute thing you have to do in your family financial planning. By having the savings, you feel more secure and financially stable. Put aside some money after you receive your salary monthly. Try hard not to use that money saving.
What You Need And What You Want
These two things may look similar, sometimes the thing we want to become our needs. Therefore, you should really be able to distinguish what you need and what you want. Make the list which differentiate those two things. Every time you meet one of them, give a sign the needs you have achieved. Try to always meet your need first, after that you can get the things what you want. Only in moderate amount.
Avoid yourself from the debt as much as possible. We often become accustomed to debt using a credit card. The ease of the process of the payment makes people become very consumerist. This could be very bad for your family financial planning. However, the credit card could be useful sometimes. So, the real problem is not how much you earn but how wise you spend and organize your family financial.
As a family, you should start thinking about how you will live in the future. Starting to think about the long-term family financial plan. You can start investing. There are many ways to invest, such as buy gold, a stock play or buying property. Look for the investment product that complies with your financial condition, but also make sure that your investment will give you benefit.