Start simply: Start with only simple systems for getting into the habit of keeping accounts and secondly to have an idea of the nature of expenditure incurred by one’s family.
Work out a system to suit personal or family needs.
Controls the accounts. Do not let the accounts control yours.
The Account keeping is a helpful tool for keeping the track of income. What will be your family’s income?
Food Housing Maintenance Clothing Transport Medical Education Personal care Recreation Others Savings Taxes
Examples of categories of outgoes: Savings and Insurance Housing (Including rent or mertgage payment, utilities electricity, gas, water, telephone, property, improvement tax other house tax if any Food beverages Clothing Transportation Routine medical expenditure Charitable contribution Recreation Education Better living needs (will vary according to the family values. A vacation trip, a T. V set. Higher education etc) Emergencies
Participants