Household family budgeting refers to organising your income and expenses in a way that ensures you are spending within your means. This includes making appropriate repayments to any loan or debt facilities, as well as putting enough savings aside for other things in life, such as holidays, new cars, home renovations, etc.
There are many ways and methods of household budgeting; from simple pen and paper budgeting, budgeting using an Excel document, using budgeting software, envelope budgeting, goal-orientated budgeting (my personal favourite), plus many more.
Budgeting your family income and expenses will help you and your family get the most out of your income through prioritisation and efficient spending.
Check out some of these blog articles that I have written on household budgeting: