Managing Money Training for Families
Managing Your Money Training for Families
It’s a shame that personal finance and managing your money training is not given in schools and its no wonder that so many people end up filing for bankruptcy or living stressful lives with debt collectors hounding them. This can be a problem that never happens if your children are taught personal finance basics. This powerful video course for managing your money training is one of the best ever created by Joey Fehrman called the ‘The Family Treasure Chest Master Class: Learn More
With the prices of food, gas, and utilities increasing on a regular basis while your income remains static, it is vital to make sure that you plan carefully so that you can make sure that to budget properly to meet all these expenses while also being able to spend your money wisely. Credit cards should never be used helter-skelter but rather to cover a serious emergency, and personal loans should be avoided. Watch This Video below and Grab This powerful personal finance training offer today!
It is important to know exactly where your money is going each month and areas where you may be wasting money, and where possible earn an extra income that can help strut your budget a bit. managing your money also means planning properly for your retirement something that a massive 90% of people just don’t do.
Proper budgeting is not as difficult as it sounds and there is a simple way to do it as well if you know the basics of how to set up one and stick to it. No doubt you know what you are earning and how your money is being distributed. There are set monthly bills and set debt payments that do not fluctuate much so it is pretty easy to list those.
There will always happen that unforeseen expenses occur like extras like repairs to your car, maintenance on your home, and then you want to set aside money for travelling, entertainment and other bills like. With a budget, all your income can be allocated properly and then you will have a clear picture of how you are managing your money.
Managing Your Money Training for the Whole Family
If you are responsible with your income and expenses, and try and set an amount aside an amount of money to save each month you will create a useful backstop to be there for emergencies or in the case if you are building a college fund for your children’s tertiary education.
Follow these sensible tips for budgeting:
a) Always balance your budget showing income and expenditure. Calculate your purchasing needs and debt repayments carefully. Try to compare different stores prices of what you buy in the range of grocery and household items you need to replenish on a regular basis. Buy bulk to save where possible.
b)Save as much as you can in any single item you are trying to buy. Fancy packaging costs money when the same item and quality can be bought in less attractive packaging. Make comparisons between prices of products and services before buying and you will be amazed at how much t you are able to save with just a little bit of patient research
c) Don’t waste money gambling. This tops the chart in money wastage as a means of entertainment. Gambling robs you off your finances and if you really enjoy this as a form of entertainment set aside a figure and stick to it. Never visit casinos more than once a month…
d) Differentiate between your wants and needs. Limit your spending on something which you are not in dire need of. Luxuries should be just that and only purchased when they can be afforded. They are a chance to spoil yourself if you can afford it and nothing more! It is no longer a luxury if you consider it a necessity…
e) Work within your budget and do not spend more than you can afford. Keep a list of income and expenses. Make it a habit every month to budget properly. Keep the purchase slips for everything you buy and add them up at the end of each month. You will be surprised at how much you can save by cutting out unnecessary items.