Difficulty in Savings for Married Couples?

[moonchild]

Married couples finds it incredibly hard to save due to scarce resources and responsibilities involved in raising a family, most times families have to rely on credit facilities to be able to survive even when they have jobs that pays good, what are some ways couples can actually mitigate this and make more money to be able to raise their families adequately.

Diversify income: diversifying income generation will help, instead relying on a job they can do better by investing in other avenues especially farming to garner more resources.

Limit Spending: Adhering to a budget can help too, spending should be planned and not done sporadically, which might cause depletion of resources quickly.

Family Planning: By planning how a family give birth to children it'll help in saving resources and also improve the well-being of the family.

 

[Mhiz chibuzor]

Married couples finds it incredibly hard to save due to scarce resources and responsibilities involved in raising a family, most times families have to rely on credit facilities to be able to survive even when they have jobs that pays good, what are some ways couples can actually mitigate this and make more money to be able to raise their families adequately.

Diversify income: diversifying income generation will help, instead relying on a job they can do better by investing in other avenues especially farming to garner more resources.

Limit Spending: Adhering to a budget can help too, spending should be planned and not done sporadically, which might cause depletion of resources quickly.

Family Planning: By planning how a family give birth to children it'll help in saving resources and also improve the well-being of the family.

It hard and also not hard and it also depends on what you do for a living and how much you spend in a month and how many children you have in Nigeria now we have scarcity of job and things is getting costly so people find it hard to save money this days especially couple with kids

 

[Mhiz chibuzor]

Married couples finds it incredibly hard to save due to scarce resources and responsibilities involved in raising a family, most times families have to rely on credit facilities to be able to survive even when they have jobs that pays good, what are some ways couples can actually mitigate this and make more money to be able to raise their families adequately.

Diversify income: diversifying income generation will help, instead relying on a job they can do better by investing in other avenues especially farming to garner more resources.

Limit Spending: Adhering to a budget can help too, spending should be planned and not done sporadically, which might cause depletion of resources quickly.

Family Planning: By planning how a family give birth to children it'll help in saving resources and also improve the well-being of the family.

It hard and also not hard and it also depends on what you do for a living and how much you spend in a month and how many children you have in Nigeria now we have scarcity of job and things is getting costly so people find it hard to save money this days especially couple with kids and low earnings

 

[Etini]

The best bet when it comes to being in control of family finances is to make sure that you don't have kids haphazardly. Some people just believe that kids are gifts are the Lord's gift and they should be brought into the world anyhow and by any means. If a married couple plans and has kids in accordance with their financial level per time, it would be a lot easier to find a way through financial management for families. More children, less control of family finances.

 

[saoussen5765]

As a married person, the level of expenses increases each year depending on the number of children and the specificity of each one especially if you have a child who needs special medical care then expenses are exponential or even studies purposes for that case. Some parents spend a lot of money on their children's studies outside territories.

 

[Suba]

Setting aside a certain amount of money systematically and periodically will be able to avoid financial risks in the future, for this reason, if you are a young couple, you really need to know the right tips and ways to save as follows:
1. Set specific goals together such as saving for old age (retirement) or buying a new car, emergency funds and investments.
2. Make a plan together and discuss it with your partner, make a commitment and obey the rules.
3. Prepare a budget and discuss which expenses that do not need to be eliminated.

 

[saoussen5765]

1. Set specific goals together such as saving for old age (retirement) or buying a new car, emergency funds and investments.

Half of married people use public transportation. The cost of maintenance of cars has exponentially risen these days.

2. Make a plan together and discuss it with your partner, make a commitment and obey the rules.

Some rules becomes not working in the future so need to be revised and replaced to be fit to the current situation.