Plan in advance for all your major Expenses

Life can often throw an occasional oddball at you and one will never know exactly when. Unexpected twists and turns can turn situations from placid to turbulent in an instant. But most of life’sbig or major expenses can be anticipated like a child’s debut party or wedding. It may seem far away yet in the future but that day surely comes soon enough. It’s very useful to have a plan in place for all your major expenses.

i.Create your own worksheet:
Worksheets exist because they make things easier. Create a worksheet for your financial plans. It could be categorized as, “Financial Goals,” “Car Maintenance,” “Major Purchases,” “Major Future Plans,” “Career,” and “Kids.” This takes a lot of the unexpected emergencies out of life.

2. Set regular family financial meetings:
Have regular discussions with your family members and know their needs and requirements. These meetings will assist you in drafting your financial plan. These meeting times should go in the master plan itself. That means that you have agreed to discuss your progress with your spouse a set number of times throughout the year.

3. Execute your plan:
Mere planning will not help, you must execute your plan strictly meeting the deadlines. Avoid the tempt to spend more on shopping and entertainment.