Tips for managing family finances


Having a good home finance family begins with a budget, it is about making a list of daily or monthly needs which will help to locate in what the money is being wasted and in which aspects you can reduce expenses and encourage savings.


Tips for managing family finances


The main thing is to have clarity in what is the single income and what is earned and what is spent. For this, it is recommended to keep the receipts of the mandatory monthly expenses and know the real amount of your salary. Add the expenses and delay your income. If you are spending more than you single income , there is a problem.


1- It is necessary to organize, by means of a block of three columns: obligatory expenses, fortuitous expenses, and savings. In the first column, locate the unplayable financial duties and the amount that they require. The fortuitous should represent a minimum of your money and should reduce them to the maximum. To the savings column, even if it varies in each person, it is advisable to allocate a minimum of 10% of their income. We must maintain a budget that helps to cope with financially difficult times and thus avoid resorting to debts to cover expenses.


2 – It must be bought intelligently, taking advantage of offers in perishable products, which are items that can be purchased at a lower price and without worrying about their expiration.


3- Program the menu of the week taking into account what has already been purchased and not for last-minute cravings. In this way, you avoid acquiring new items that may not be used. You should not buy hungry. That way you won’t be tempted to leave the shopping list.


4- Limit meals away from home, in case it is necessary, it must be exchanged for a cheaper option and with some offer of a benefit


5- Buy fruits and vegetables that are in harvest or on the day of discount, usually at a good price


6- While the choice and purchase of clothing is subjective, saving in this area is not synonymous with dressing poorly, you have to look for clothes of basic designs and primary colors. In this way, it can be combined without a problem. In the case of children, consider purchasing cheap clothes for them to play and another of better quality for social events.


  1. Within the general budget always keep a percentage for the cost of clothing, so avoid buying on credit, recycle the clothes you have at home, add or remove details, so you will create a new and original garment.


8- Take advantage of the change of collection in stores that you like to buy items that allow you to renew the closet