Money Lessons: From Successful Homemakers

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Money Lessons: From Successful Homemakers

Postby sarahtaylor » Fri Mar 13, 2020 2:18 am

Money lessons!

Who wouldn’t need them!

Finance managing is undeniably tough and turns out even more complicated when categorized under family financing.

Even after swearing by the strict guidelines of frugality and thriftiness, homemakers somehow end up in a vicious debt spiral and face a plethora of financial constraints.
So here are some key tips of investment planning that all the homemakers can opt to avoid ending up in a debt-drown:

Start by Earmarking Your Financial Goals

• The first rule is to keep accountability. It keeps a check on whimsy spending habits. Also, a big perk of monitoring finances is that if any of the partners’ splurge, there’s no room for blame games.

• The next rule is to consider the financing mindset in a marital bond. Possibilities are that one might be a complete spendthrift while the other one happens to be a devoted saver. It’s imperative to know the outlook of both members to come up with a realistic budget that complies with the inclinations of each of them.

• The last rule is to maintain a Monthly Financial Planner to work on debt reduction and track all sources of income and wealth consumption, but if you aren’t a natural at budgeting, consider using an expense tracking software. It not only organize and allocate each penny but also keeps you mindful of your spending patterns.
Last edited by sarahtaylor on Mon Mar 30, 2020 6:53 am, edited 1 time in total.
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Re: Money Lessons: From Successful Homemakers

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Re: Money Lessons: From Successful Homemakers

Postby Jijia » Fri Mar 20, 2020 9:33 pm

sarahtaylor wrote:Money lessons!

Who wouldn’t need them!

Finance managing is undeniably tough and turns out even more complicated when categorized under family financing.

Even after swearing by the strict guidelines of frugality and thriftiness, homemakers somehow end up in a vicious debt spiral and face a plethora of financial constraints.
So here are some key tips of investment planning that all the homemakers can opt to avoid ending up in a debt-drown:

Start by Earmarking Your Financial Goals

• The first rule is to keep accountability. It keeps a check on whimsy spending habits. Also, a big perk of monitoring finances is that if any of the partners’ splurge, there’s no room for blame games.

• The next rule is to consider the financing mindset in a marital bond. Possibilities are that one might be a complete spendthrift while the other one happens to be a devoted saver. It’s imperative to know the outlook of both members to come up with a realistic budget that complies with the inclinations of each of them.

• The last rule is to maintain a Monthly Financial Planner to work on debt reduction and track all sources of income and wealth consumption, but if you aren’t a natural at budgeting, consider using an expense tracking software. It not only organize and allocate each penny but also keeps you mindful of your spending patterns.


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Re: Money Lessons: From Successful Homemakers

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