What Savings pattern should a family man adopt?

[tray591]

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.

I will never agree with you unless your family dosnt just want to save if you guys want to save then its can even be agreement between you and your family,sometime you need to do other external project aside from feeding and clothing, so if you didnt save money for that then such opportunity might not be there

 

[Alexandoy]

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.

I smirk at lavish wedding celebration where the couple spent so much for the video coverage. That cost can buy a good used car already so I see that video coverage as a waste of money. When it comes to savings I guess the wife should be the one to handle the finances. That's the standard in our home.

 

[Sotherefore]

Sometimes as a family joint serving can actually be the best and this should be encouraged between husband and wife because this will help them to plan their life better and can also promote cooperation in marriage, it is the best form of saving that is adopted by modern couples nowadays for the main purpose of planning and development themselves.

 

[Syldan]

Savings method, to a family man or the entire family is very complicated most especially when the income is very less than the needs of the family. they only think is to save less in other to meet up to the need of the family.

 

[Good-Person]

There might be no hard and fast rules when it comes to saving money until or unless you think that you are spending money unnecessarily or extravagantly. Moderation is the key and development of saving plan depends on how big your family is.

 

[Kaffyfolla]

The saving pattern to be adopted by family my own perspectives is monthly contribution because daily saving formula can not be work due to domestic expenses incurred daily

 

[Keibah]

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?

Such a man needs to sit down and analyze his income. I think no less than 10% of his income should go into savings after he must have settled all expenses for the month.
It needs to become a habit and then a way of life. This way, he can save for rainy days.

 

[kinqzbitz]

In order to be able to save you have to have discipline and try to control yourself and I think atleast 30%of your salary each month is actually enough to save but it seems on how much you earn

 

[Wiserr]

I think what he lacks was plan if to say he planned everything he does he will not have any challenges. The best thing to do is to plan and know how much you will be saving up.

 

[Kane]

Instead of saving, focus should be on investment. If you save, your money will not grow, but if you invest your money will grow exponentially. You can also buy insurance policies for each member in the family.

 

[Adecyptii]

Family man has a lot of roles financially,he has to supply the need of his wife and children,it is advisable for a family man to be saving at least 20 percent of what he earns.

 

[Immilash1]

This actually depends on the business or job you are doing but I will advise you to save up 50 percent of all your earnings.

 

[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 get your point but I don't think current realities will enable a man that's a low income earner even the middle income earners are finding it difficult to save due to high inflation. In most cases to save before spending will be hard be one in hand will not be enough to meet immediate needs.

 

[Ebro01]

The only pattern a married man should adopt is by saving your money on shares that will latter multiple more and investing on land and property because they are long term investment.

 

[Heatman]

Depending on the means a man generate his money i think the best way a man can save is to adopt method of scale of preference, by this he will do away with unnecessary spendings n here keep certain percentage of his outcome asides

Before you can actually be able to save money everything depends on the amount of money that you are earning and the kind of expenses that you were getting into every month.

 

[greenie]

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

 

[Sotherefore]

Well in most cases you should try to invest your money as you can , maybe by saving in the bank or maybe investing in real estate in most cases , joint families saving can even be better.

 

[Setho]

As a family man the most important thing to you is how comfortable your family is going to be and also trying to create a financial freedom in the future. I think saving 20% of your income or looking for other ways of making passive income is the right way to go.

 

[Shigobad20201]

The saving pattern to be adopted by family my own perspectives is monthly contribution because daily saving formula can not be work due to domestic expenses incurred daily

A family man must be very careful and must save according to his pocket or his actual monthly or weekly income , he should save what he believes will not affect his family

 

[Sincerem]

Joint savings is not a bad idea for families but in most cases separate saving method could be used depending on the arrangement between the man and a woman. All these things require understanding and arrangement . That's all