10 Best Ways to Plan Household Finance
Whether it’s a question of running a nation, an organization, or household when it comes to financial aspect, planning is must. There are so many aspects that we need to consider when we are doing financial planning for our home. 1. INCOME & EXPENDITURE: This is the basis on which rest all things depend. We need to keep a track of how much income we are generating and how much we are spending. 2. KEEPING TRACK OF EXPENSES; There are needs; then there are wants, vegetables, groceries, transport, communication, electricity, rent, etc are needs. Other areas where we spend such as for entertainment, or going out on a holiday, or shopping these are the areas where we need to spend in limit, considering our affordability. 3. BALANCE / IMBALANCE: When we compare our income and expenditure, we come to a conclusion, whether we are on the track or running off track. We should always be left with some balance / savings when we take out expenditure from income which can...