“Women and Money: Family Budgets,” discusses the need for women to understand their household’s finances because statistics indicate they will be in charge of the finances at one point or another of their lives due to divorce, death, or another circumstance. Creating a budget will help any woman successfully manage her family’s finances. The first step in creating a budget is determining how much money a household brings in over the course of a year by tracking inflows for three-to-six months and how much of that income can be used to pay certain expenses. Tracking and recording a family’s fixed and variable expenses is the next step. A woman can adjust the expenditures in her budget to afford a different lifestyle once she has determined her household’s income and expenses. Finally, the article mentions the importance of a wife talking honestly about finances with her spouse since men and women approach money differently.
Posted at The Centsible Life
