Every month, there are countless families that are engaged in a financial battle.
This an inevitable fact that families must face.
You see, when your family operates without a financial strategy, when you don't communicate to each other about money management, you inevitably set the stage for a financial defeat.
This is what causes so many people to go deep into credit card debt.
Victory, however, is just a matter of how a new family has handled their monetary stock from the beginning.
Have you practiced budgeting? Did you set aside savings from your take-home pay? Have you looked at the risk of putting your family to the bridge of being in debt? Just to let you know, you may not be the only person who does not.
Look at what the surveys had found:

• Only 1 in 5 people use a monthly budget.
  
• Families carry 2.
  1 trillion in debt, up from 351.
  9 billion in the late 1970s.
  
• About 50 percent the families surveyed spend $2,500 to $5,000 a month on debt payments.
  
• Savings are at an all-time low, according to the U.
  S.
  Bureau of Labor Analysis.
  We tuck away only 1.
  2 percent of our income.
  Lately, the savings rate has been negative with the current economy.
  

How do you get on the right track? First it is vital to get a snapshot of your financial picture.
This can be broken into six parts:

• 1.
  Your revenue
• 2.
  Taxes
• 3.
  Fixed expenses
• 4.
  Variable expenses like food, utilities and transportation
• 5.
  Periodic expenses like auto insurance or home maintenance
• 6.
  Optional expenses like vacations and entertainment

Now that you have a clearer picture to where your money goes every month, it is time now to do the following strategies that will definitely save your family from the hidden danger of falling into financial defeat.

• 1.
  Put 10 to 20 percent of your income toward savings.
  
• 2.
  Set aside an emergency fund with enough money to live on for at least 3 months.
  
• 3.
  Lay out your short and long-term financial goals.
  
• 4.
  Know your net worth.
  
• 5.
  Train your kids to be part of the plan.
  

Have these tips in mind and you'll be sure that you are on your way on leading your family to a brighter future.
By failing to plan out your expenses, you fail to plan a sensible way out of credit card debt.