Why do families need to prepare a feasible (achievable) and practical budget for their family?

Household Budgets are prepared in order to help plan for expenditure. It also shows a family if and when they may need to arrange extra income or to reduce expenditure. It shows us the following; Surplus on a month-by-month basis OR Deficits on a month-by-month basis.

Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.

Explanation:

A family budget is essential to managing your money. ... transport and medical services can help you make sure you have enough for unexpected expenses

Zairamarieperantego Zairamarieperantego · Answer 2

Zairamarieperantego Zairamarieperantego

Answer:

Money management is about meeting expenses, setting aside money for emergencies, and saving.

A family budget helps you spend and save wisely.

The key to budgeting is spending less money than you earn.

When you spend less than you earn, you can start saving money.

Explanation:

sana po makatulong.

Answer Link