By: Michael Herscovici
Some people have a hard time maintaining a budget for themsleves. It does not matter if this is due to implusive buying, splurging, or other reasons, some people find it is a difficult task to stay within budget all of the time. This problem increases when you are sharing your money with your wife/husband. Even if you are good at sticking to a budget, your significant other might not be, leading to stress in an otherwise successful marrage. This problem becomes even bigger when children are involved.
Most families do not start out with 10 children. They like an investment grow over time. However, the larger the family is, the harder it becomes to maintain a consistent budget within their means. This problem increases because children do not consider budgets or finances when making requests or kicking a screaming at the toy store. All they know is their needs. Professor Watkins said it best when he stated that "Children are like money vaccums".
One might think that parents often sacrifice the things they want in order to allow their children to gain the things they desire. However, more often then not, parents just like businesses are finding ways to cut cost, and be more efficient rather than in business terms, "try to increase revenue".
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It is hard to budget your money especially when you have more kids.
ReplyDeleteScarlett Lu