Friday, August 31, 2012

How to budget when you marry

When you are single, you must be not difficult to create the budget. The budget just consist your spending only. When you marry a woman, you should think the woman spending. You have to responsible for the spending. When your spouse bear some kid, you have to fulfill what they need.
The family budget must need more money than the single. To create the budget, you can do like this:

1. List all of your incomes. The salary may sit on the first rank of the income. Some mother also work to assist the family finances. You may add the wife salary to the incomes list.
Do not forget to list the other incomes. Perhaps you write some book that generate royalty each month. Perhaps you have a business that  generate profit thousand dollars. List all the incomes and do not miss an entry.
2. List of the spending
The first things that you have to list is monthly living cost. The living cost of family must be higher than the single budget. You have to provide more food as much as the number of family. Perhaps your kids need baby food because they have no teeth.
The family head should consider to buy the house for the family. He can use mortgage or buy the house cash.The house is very important for family where they can live at there. 
3. Find the excess of the income with the spending. If the spending is higher than the income, you are better to reduce the spending. Other ways to balance the income and spending is to raise the the income.

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