Question

Give any five points highlighting the importance of ‘Family Spending Plan’

Answer 1

Answer:

Below are the advantages of a family spending plan.

Explanation:

• It teaches the family members the worth that money has and prepares them for good money handling skills and also spending skills.
• A spending plan ensures that at no time shall you miss money for your needs since you planed earlier.
• It helps in tracking and organizing spending for someone or the whole family.
• It promotes happiness in the family since when people are comfortable, then they shall be at peace with each other.