What Savings pattern should a family man adopt?

[Ghost1]

Lol does a family man saves? With the loads of expenses and the pressure to deliver I don't think most family men saves, some of them their salary is not enough to foot the bills

 

[Stnicholaz]

It will be very difficult for a family to save especially when the income is relatively small and the level of inflation has made the price of items in the market. After paying bills and buying the basic needs of the family, most times there is nothing to save.

 

[Bright7777]

The best saving pattern that a business man can adopt including making you redraw only the money that would be useful and save the remailing money directly with bank.

 

[Ellamma]

A family man having a joint account with his wife won't be bad at all. He should adopt a joint account saving pattern so him and his wife can save together for the family

 

[07Trinity]

A family man is one that is blessed with wife and children. Hus spending pattern is complex as he has to meet the needs of everyone in his household. Bearing that in mind, what Savings pattern does he adopt?

The saving pattern is dependent on family demands and income,it's very difficult for families to save oweing to the fact that responsibilities are more than income.

 

[Sisinsefi]

A

A family man is one that is blessed with wife and children. Hus spending pattern is complex as he has to meet the needs of everyone in his household. Bearing that in mind, what Savings pattern does he adopt?

A family man can save with trusted corporate bodies...that way he'll be sure of his savings.

 

[Godspower]

Writing out a list of expenses for each month and the expected income is a good way to start. Buying of things in bulk and good preservation strategies can help to save expenses. Also, avoiding unnecessary spending on toys can help

 

[eLdavis]

I do not think there is a specific method a family should save, I might be wrong though but it depends on the family it self. The best would be to setup a list and a budget. The top of the list should contain the things needed most before any other thing.

 

[McIrx]

It depends on the way the money comes in for the person. If the person is a salary earner then it is advisable to open a different account with the bank where his salary get deposited. Instruct the bank to deduct a particular percentage each time the salary is paid and move it to the new savings account. It's not easy to be a disciplined saver as a family man.

 

[Thinker009]

The saving plan the business man wants to adopt , depends on the person ways of handling and settling expenses for that month ,most actually have a huge amount of bills to settle ,then he or she could calculate his saving from there

 

[Nass1]

Am now a single but for me is that As a married man what you have to do is to have double sources of income not only salary something have to be engaged with work you are doing but individual differences.

 

[Patobobby]

I would prefer a joint account saving for a family at least to have back up when needs or emergency arises.

 

[Kubiat-Abasi]

The man should save on a scale of preference. Even though he should do a joint saving, he should still save money separately to avoid unforseen circumstances.

 

[Toyoabasi]

A family man is one that is blessed with wife and children. Hus spending pattern is complex as he has to meet the needs of everyone in his household. Bearing that in mind, what Savings pattern does he adopt?

If the man is married to a woman who is also working, then he can adopt the joint savings pattern. They can decide on what percentage to contribute to the joint account individually. This will really help meet household needs.
This pattern doesn't stop the couple from having their individual savings.

 

[Dagm1]

He ought to preserve. Your budget will show you whether you're spending more or less than you make right now. If you're currently overspending, it may be beneficial to sit down as a family and brainstorm ways to save money. If you already spend less than you make, you might look into ways to save and put your money to good use.

 

[Seno inyang]

The best saving strategy for a business man is making a budget list of what he will spend his next salary on, then save up the left over, trust me this will go a long way to helping him avoid unwanted spending. Secondly, I would have suggested a joint account but not every wife accepts that. They want to rule their own money but if a joint savings could work for you then it's absolutely the best for a family man.

 

[Mayox25]

For a family man to save,such savings should be tied to a particular goal or project and a fixed percentage to be deducted from their income.

 

[Stnicholaz]

The best Savings strategy that should be adopted or used by a family is to save before spending but that doesn't mean the man should not take care of his family I just think that this kind of saving strategy will help the man to save aggressively and help him shun any unwanted spending

I think that is the only solution to me especially when the income is not much and the family is determined to save. It might not be much but atleast something is set aside for future use.

 

[jay]

A family man knows he has bills to pay every month. So I think the first thing he should do after receiving his salary is to write out the cost of bills he needs to settle such as groceries, electricity bill etc. He needs to keep money aside for that and save the rest. He should always avoid unecessary spending and only spend money on things he needs.
If he has a wife who is working, they can open a joint account where they will save a percentage of their salary every month.

As long as the wife is not too extravagant when it comes to her spending, opening a joint account for them will go to a very good way in solving their financial problems.

 

[kayode10]

I think it is very important to prepare for the marriage long before you do so. The common mistake people often make over here is that they run around to raise money only to spend it lavishly, train up parts just to show that they are rich and they are not.