Discuss any 5 advantage of record on family expenditure statement

That's because a family budget helps you: spend your money wisely on the things you must have – these are your needs. save money for the things you like but can live without – these are your wants. set aside money for unforeseen expenses – for example, if your car breaks down and needs repairs.

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Records could shorten the time it takes to collect insurance, military benefits, veteran's benefits or an income tax refund • Evaluating past records provides information for planning future spending