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.

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How to Build Great Relationship between Parents and Children

These are what we must have for building great relationship between parents and children:

1.            Good Communication

Communication is the most important thing to manage. Parents should communicate well with their children. Parents should share the vision and mission of the family. In the other hand, children should also be opened to their parents about their dreams, problems and everything related to them. The good communication between parents and children will create harmony and avoid clash in the family.

2.            Good Time Management

Father and mother can also be a friend of their children, but the chance to be their friend, is sometimes less because both children and parents have their own busy life. Parents are busy with their work while the kids are busy with the affairs and their friends. In fact, a lot of parents are concerned on jobs, so they neglect their children. Things like this should be avoided, because lack of communication is the most important factor causing disharmony between children and parents. So, take the time to gather together; share stories and experiences; share feelings; and others, it is important to be done. We must realize, children definitely need parental discourse, therefore communication between parents and children is very important to do. Don’t always be busy of working! Parents should allocate enough time to gather together with their children.

3.            Mutual Understanding

Sometimes, children have different ideas with parents. But. This should not be potential clash in the family. It can be the resources, brilliant ideas that can lead to the great ideas. Both parents and children should understand each other and find win-win solution. Not only will it resolve the problem but also create harmony in life.

4.            Mutual Respect

The key to achieve good communication is respect. Every single actor who communicate should respect each other. Therefore, it will build the understanding among them. It is impossible to create good communication without understanding.

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

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