If a simple question is put in front of most of the people that how much is the cost of living on this planet? Only guesses will come and most of the people will have no clues on this question. You might get answers from them on their company budget, their upcoming project budget, Country’s budget but always remember the most important aspect of our life is family budget because a family budget planning plays significant role in leading our lives tension free and in a much planned way.

Here we are giving some significant tips on how to plan the budget for your family. Some people think that by family budget planning they will stop themselves from spending but the suggestions here are not for that.

Here are the best three Tips that will help you to be aware of your spending:-

1. While planning a family budget, first observe carefully the family member’s spending habits.
   
2. Do not always guess about spending on your mobile, every month grocery, shopping clothes, eating out and many more. Always refer the actual figures from the invoices. Your credit card statement will also help you to judge yourself about the actual figures of your spending.
3. Many people spend beyond their budget because of multiple inflows and multiple outflows of receiving money. Nowadays, the payments usually received through cheque, cash and direct credits to our bank accounts and people are in a habit of spending in cash, cheque and by using debit cards or credit cards and as both husband and wife have powers to spend and earn so people usually spend more and pay less attention on checking the bank inflows.
4. Start noting down all the expenses incurred in a diary. This should be for at least six months to one year. This will give a clear cut picture of your monthly expenses incurred and you can easily fix up the flaws.

It’s always wise to plan in advance about coming month’s expenses. Both husband and wife have to sit together and should talk in detail about upcoming month income, savings and expenses.  

If the children are adult involve them too and always motivate them to limit the expenses on eating out with friends, partying and purchasing fashionable accessories more than the need.

 From the childhood motivate your child to save money .Give them a reasonable amount as a pocket money or a piggy bank will help a child to know better about saving money. 

Note down the forth coming expenses category wise, this planning will help you to know how much you will spend and where you will spend? 

Then make a list of each category and the best way to put money in different envelops or boxes according to the expenses like groceries, bills, children school fees, books purchasing, and uniform and so on. One should be flexible for up and downs in assumed expenses. 

  In Gist , All of you are requested not to get suddenly motivated on writing family budgets because drawing a proper budget need study, observation and family consent and also other members active participation.