Let’s Learn, How to Do Family Financial Planning!

To make family financial planning successful, you must compile and specify detailed family finances for each period. There are many examples of family financial planning tables for you to learn.

It is necessary to know and study the family financial table, be it for a big family with many children, or a small one with only 1 or 2 children, as well as newlyweds. That way, family members can control their finances through careful financial planning.

Family Financial Income Table

The first thing you need to do is to create an income table per specified period. Usually, the financial planning table is valid for one month. Then, you can start by listing all income sources for one month.

The table below is an example of a financial planning table for a family with two children, who are of school age, working spouses, and an additional income from a joint business with a friend.

Family Financial Expenditure Table

Furthermore, you can plan your family’s expenses for one month. Below is an example of family financial expenses table from the same family profile as seen in the previous table.

You need to make an expenditure budget for your lifestyle or entertainment to estimate how much money to allocate. Usually, the husband/wife’s entertainment costs refer to the expenses spent to cater to the husband or wife’s needs or hobby.

Meanwhile, family entertainment costs include family activities such as eating out, going to the movie, family outings, and vacations.

Household Finance Simulation

After breaking down the income and expenses in detail, you will know how much is your net income every month.

Once you learn how much is your monthly net income, you can put it in savings, investments, or insurance for family protection. Allocating monthly net income can be beneficial in the long run.

To help make it easier to meet family needs, BCA presents the Lifestyle Feature in BCA mobile, where you can make transactions such as shop for groceries, movie tickets, flight, and train tickets, book a hotel, recreation & attraction tickets, buy tickets for certain events as well game vouchers, streaming, and shopping vouchers. 

You can carry out your lifestyle through Lifestyle Feature. Need to worry about overspending living expenses because Lifestyle Feature record everything for you where they are available at your fingertips.