Great Management of Family Finance

These are seven steps for making great management of family finance:

1.            Understanding All Aspects of Your Family Finance

In this step, you should know how much money that you have, your income and your outcome.

2.            Making Financial  Planning

After you know how much money that you have, then plan how much to spend, save and invest.

3.            Saving Money Together

Ask your wife or husband as well as children to save money together.

4.            Differentiating Between NEEDs and WANTs

You should prioritize the NEEDs that the WANTs.

5.            Avoiding Debt

Do never borrow money from others. Use and maximize what you have.

6.            Setting Up Long Term Financial Target

For example, you should save US$. 10.000.

7.            Investing

To make your family future better, start to invest what you have. You can invest your money by buying share, property, gold, etc.

This does not include all the tips. You may add your own.