Tips Money Family management

 When it comes to household matters, of course, you can't be separated from financial problems. Because managing household finances is not an easy thing. Of course, there is a need for a separate way to manage household finances properly so that all family needs can be met.

In addition, there are many factors that affect household finances. Starting from mandatory needs that must be met to desires or consumption that are additional or entertainment. The reason is, managing household finances is not only the responsibility of one person. Whether husband or wife, both have a fairly crucial role in managing household finances.

The size of the salary often affects how to manage household finances. Not infrequently can avoid the condition of a financial deficit. Especially if the husband's or wife's income includes fixed income, aka a fixed monthly salary with the necessities of life that often go up and down.

For those who have a small salary, of course, it will be difficult to save money for several things, including emergency funds, tuition fees, retirement funds, buying a car, and so on. No wonder that some run out of money in the middle of the month. It might happen. The reason is that the husband or wife cannot manage the monthly salary properly in meeting the financial needs of the household.

Actually, there is no definite formula for managing household finances. Well, how to manage finances in the household properly so as not to be wasteful? This time, Openguestpost  will help you provide solutions in managing household finances. Check out the following explanation regarding how to manage household finances so that they are not wasteful.

1. Calculate All Your and Your Spouse

's Income To manage household finances effectively, how to manage household finances if a husband and wife work, all you need to do is calculate all your and your partner's income for one month. The income referred to here is not only from monthly salary income, but also includes incentives obtained when receiving overtime wages to profits when investing.

This is important to do so that you and your partner can divide the allocation of income you have into needs that must be met. Keep in mind that the first to be met is a primary need. By calculating all income, managing household finances becomes easier.

2. Create a detailed budget for spending

on household finances, tends to occur when you use money to follow your desires, even though your desires are not necessarily your and your partner's needs. The best way to use a small income is to make a monthly spending plan using a detailed written budget.

How to manage finances in 1 month? You can spend the money from your income and your partner according to the plan that has been prepared. When it's time to buy what you need, you and your partner already have a budget for shopping. However, do not use money beyond the budget that has been prepared because the remaining money has been allocated for other needs.

3. Determine Family Financial Priorities

Next is to determine family financial priorities for a month in the form of a priority list. This list will later help you and your partner in managing household finances effectively. By making a list of priorities, the allocation and expenditure of household will be neater and more organized.

Later, household expenses that will enter the priority list include the cost of daily meals, kitchen expenses, electricity bills, water bills, work transportation costs, children's education when they enter school age, to vehicle or house installments.

In addition to helping manage household finances, this priority list will serve as a reminder that priority needs must be met first. Then, if it is still sufficient, it can be allocated for secondary and tertiary needs.

If you and your partner are still having trouble making a priority list, then you can start by planning a written monthly budget. Divide the list of expenses into two, namely: primary needs and tertiary needs.

Primary needs include food, transportation costs, electricity, water and telephone bills, house installments, motorbikes and cars and others. As for the tertiary needs, among others, the budget for shopping for clothes, traveling, to the budget for hanging out with friends or coworkers.

Planning a grocery list here is considered very efficient because by shopping in wholesale quantities, the price will be much cheaper, so you and your partner can save more on buying food and have more savings. In addition to getting used to making a monthly spending plan budget, you also have to get used to complying with the financial budget that has been made with your partner.

4. Record All Expenditures in Detail

Tips for organizing and managing household finances. Next, for how to manage household finances so that they are not wasteful, you and your partner should record detailed financial circulation in a book. Starting from income, expenses, balances, and all forms of budget. Record it in as much detail as possible because that way, finances will be monitored properly.

Even easier, the way of recording can be arranged in tabular form like accounting bookkeeping rules. If you are confused, you and your partner can look for examples on the internet. This step applies to all amounts of your income, both as a way to manage household finances with a salary of 2 million, 3 million, 4 million, 5 million, 7 million, even above that.

5. Prepare a Financial Post for Emergency Funds

Although it is always said that you have to save money and reduce expenses in several fields, that doesn't mean you don't have an emergency fund. An emergency fund is one of the most important concepts to think about when it comes to household finances.

Similar to saving, this one tip prioritizes the habit of allocating special funds. Think of it for future needs or health. You can also do this by setting aside certain funds. It doesn't have to be big, but it's constant.

Do it regularly and with discipline, so that one day you will not be confused by an emergency that hit and still have funds for other needs. Basically, it is undeniable that the financial cycle will be increasingly difficult to control when married. Increased household needs will go hand in hand with spending. Therefore you should try to save money, limit spending, plan shopping needs, and be wise in allocating funds.

If you are confused and still can't apply, the way is other than for basic needs, set aside a portion of your income and your partner every month for an emergency fund. The amount is relative, it can be 10-30 percent of the income earned each month. Keep in mind, the money that has been set aside every month is for an emergency fund that is only used occasionally or in an emergency.

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6. Keep the Debt Ratio, Make Sure It's Not More Than 30% of Income

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