“Everyday millions of families buy food, go shopping, avail of services such (salon, massage, entertainment) , eat out – which can be summarized by one activity: spend money. While it is true that most families have dual breadwinners still there is always shortage of money. Could it be that the income is not enough? Probably but even families with high-income complain of not having enough.
The problem then is not the income but the budget. Generally, a budget is a plan which is reflected in value (money). A homemaker (who usually manages the budget) spends money as soon as she receives it from the husband’s salary. The money received can be considered receivables. The first thing that is usually done is pay bills, utilities, credit cards, insurance and other payables. It seems a routine task but what happens actually is the process of home accounting.