Question

1) The meaning of household financial management is

2) Give two reasons that household financial management are an important in Millenium Era

3) Explain the financial management strategies needed when managing our money

Answer 1

1. Household financial management is financial management of household needs. It is a financial blueprint of household needs and how one should use his funds to manage daily household needs.

2. two reasons that household financial management are an important in Millenium Era are-

A. It's a key to the healthy relationship between husband and wife as afterall it's all about money .

B. It helps you to save money for retirement and adverse future events and achieve your financial goals quickly.

3.Financial strategies could be-

A. To prepare a budget

B. Understanding your expense, income, debt

C.Creation of an emergency fund to counter adverse situations.

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