Importance of family budget - JSS3 Home economics Lesson Note
- It helps the family to make wise decisions about expenses I.e, how their income is been spent on good and services.Â
- It helps the family to spend money on what they really need I.e, prioritizing their needs before their wants.
- It prevents wasteful spending of family money I.e to minimize wastage of resources.
- It helps the family to see how they they spend their money ( helps them keep account on how their money was been spent).
- It helps prevent impulsive buying.
- It helps to train children on the use of money.