Family Economics and Consumer Education

Family Economics And Consumer Education 3 (2+1)

Lesson 07 : Planning Of Family Budget

How to Make Budget Plan Successful

It is necessary to check on some aspects of the budget after collecting the information about the anticipated income and estimated expenditure.

1. Check up whether the planned budget is realistic in bringing about balance between income and expenditure.
2. Are the estimated income and listed items accurate in satisfying wants of the family?
3. Can the budget plan accommodate unexpected needs or modify or adjust when expenditure pattern of the family demands it ?

The above questions should indicate about the ideal nature of a budget.