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If you feel difficulty of finding a way wisely manage the household finances? Check out this guide to manage the household finances!
Managing finances is not easy. This problem has always been a wedge which eventually led to the dispute. Given the differences in perceptions about the finances between the couple, it would require a rule that allows everything to be run wisely. The key, avoid some financial mistakes, as quoted from Times of India.
Finance is only on one account
Experts say this is a bad idea because of all the expenses and the savings rely on one source. Open an account again where is devoted to the payment of household expenses every month, while another account is used to accommodate future savings.
Avoid too much debt
According to the therapists, many couples are too often indebted to their personal interests and difficulties eventually pay it off. Therefore, you and your partner need to be honest with each other about finances, debt, and expenses incurred. If you have trouble, ask a financial expert to help you financially not conceded.
Avoid spending too pleasure-loving nature like unnecessary insurance and purchase phones that do not benefit. Learn to save money so that debts can be repaid on time. Finally, take advantage of items you have and can be used as money to help the settlement, including clothing, gadgets, and so on.
Not having an emergency financial plan
Experts also recommend planning in advance, especially an emergency fund to anticipate unexpected circumstances, such as sick or can not work. One way to do, namely set up a savings account separately and used for mutual funds or deposits. Set aside as much money as you can afford at first and let you fill every month continuously. If you receive emergency food, do not forget also to put it aside some of your savings into it.
Do not keep the spending of the couple
Communicate with your spouse about financial matters as much detail as possible. Sit down together to discuss the monthly spending and manage finances together. One of the best ways to avoid over-budget is to withdraw money every week and use it for daily expenses in cash and not using the card.
