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You need a home budget planning strategy for your family in both prosperous and poor financial circumstances. It's vital that you realise that having a plan to organise your income, debt and resources is an absolute necessity. This way, you can start saving for yourself and the future of your children.

Whether you make thousands of dollars a year, or are living below the poverty level, you need a family financial plan. By allowing yourself to set up a family financial plan, you'll be able to be goal orientated and see your progress.

A good start would be to look at the entire income that you have earned in the last 3 to 6 months and start making a list of your expenses.

After putting together all your family expenses from the last 3 to 6 months, it's time to go through all your receipts. This serves to plan for those items that you may have forgotten to purchase during that time. For example, it's not difficult to forget paying for club memberships or other fees that come once or twice a year. Don't forget to add this to your expenses so that it is budgeted.

You can now start to set objectives and budget things, now that you know how much money is coming in and going out. You may be having trouble making your bill payments on time and if you want to find money to make this easier, all you need to do is look at your receipts and reduce other expenses. It's important that you understand how much that mocha cost you on a monthly basis, other items that are not needed can really add up. And by cutting them out you be surprised how much money you can save.

In order to fully understand your budget, make sure that you have categories so you understand exactly where your money is going. One of your categories could be called house expenses and would include the utilities bills. In order to make your expenses more specific, you can add subcategories under each category. Budgeting is an easy exercise once you know exactly your income and expenses.

Once you set your budget, you'll be able to watch your family financial plan grow, before you know it you'll be setting aside money for retirement in college. A home budget planning strategy is a must if you would like to secure yours and your family's future.