Managing money as a family head.

[TOZZIBLINKZ]

Not all family heads today are blessed with high prestigious jobs with huge attractive salaries as income and earnings , Some large majority of family heads today have to work hard and spend or devote extra hours of their time in order to earn a considerable and positive amount of money so as to be able to feed their families and to fend for their family's future and present wants and needs . In a situation like this , a family head must be able to know how to manage his money so as to be able to allocate it to various areas and sectors of the family that are worthy of allocation .

Despite how small his income or earning may be , a family head must be able to allocate some part of his incomes and earnings for saving and investment purpose . He must prepare what is known as a budget , so as to know what he and his family you need for a particular week , year , day , or month depending on the situation . In preparing the budget he must be sincere not to fail the budget plans so as not to owe various individuals and run at a deficit .

 

[Sotherefore]

The only thing is that no matter how your salary or your earning is small , you should try as much as possible to save because that will really help you in So many Ways . The thing is that so many people are complaining that their earning is too small and as a result of that they can't even save a single of that money because they believe it is not enough. That is just wrong to me. if people are not able to save some money then when problem arises they wont be able to help the situation because they don't even have extra money to handle it.

A lot of people are saving money for so many different things , I have seen so many different people who have created a different bank account and save money for so many things like health, families, School fees for children and so many things they can imagine. This has really helped them because at the end of the month when the need arises in any of these categories , they just went to the bank and withdraw the money without looking for a way to raise that money within that particular period of time.

 

[Abigael]

Being the breadwinner of the family is such a noble task but has so many hassles. It is something that forces you to actually be so good at managing money and give the whole family the basic needs that they need.

Managing such a family requires a lot of budgeting. Which involves planning your finances well so as to spend it wisely. Personally, I prefer writing the budget down on paper. That becomes so easy to plan and stick to it because it is so straightforward.

One thing to specify a lot when budgeting is defining the needs and wants of the family. That will push you to satisfying the needs first before you satisfy the wants. Then you can give them a good treat of their wants once in a while.

Another important thing to do in order to manage family funds as the head of the family is buying everything needed in the house in bulk. I have found out that doing shopping in bulk saves you so much money than when you buy small things frequently. In fact, it is much easy to manage bulky spending of money once in a while than the small shopping everyday.

 

[kayode10]

Paucity of fund has been one of the major headache for the head of families in most places.

The reason is that economic situation and the present world is not friendly with majority of the people. Virtually every day people are slipping into depression and lack of money.

Virtually every day people are losing their jobs due to the economic hardship that is facing a lot of people. Inflation is also not helping the matters.

Inflation keep going up and this make it pretty much difficult for a family man to cater for the immediate needs of the family.

I was reading a story about a particular man on WhatsApp. The man was searching for a job all over the places and couldn't find any. He was called during the job search that's one of his children is very sick and he is in the hospital.

The man rushed down to the hospital only to discover that the bill is much higher than something he can afford in order to keep the boys safe. He was crying in pain as he was unable to pay the money.

He was bailed out by a good Samaritan who have a mercy for him on his current situation. He was more than happy when the man offer a financial assistance to him.