Management Of Family Resources

Lesson 38 : Importance Of Budgeting

Introduction

In our present day economy, the financing of a family has become a very complicated process. Practically one has to pay for a multitude of expenditures which are made everyday. It' is very difficult for anyone to remember all these payments. In order to get an accurate information regarding the expenditure, some system of its recording and other financial operations are needed. This is very important to execute the budget and exercise control intelligently. Even simple records consistently and carefully maintained will help to ease the process of financing for family, and then to control its expenditure.