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(MoneyNewsWire.Net, May 30, 2015 ) VICTORIA, Australia -- Learning how to budget can feel restrictive and frustrating for some. But research has found that when there's a cohesive understanding of where money is coming from and going to within a household, better monetary decisions are made and more financial flexibility is ultimately created.*
Designing a budget can be difficult for a family, when there are so many players involved. According to Caren Hendrie, director of financial planning company The Hendrie Group, families usually need to start by shifting their mindsets about money. www.hendrie.com.au
"Household budgets are simply a financial strategy, and learning how to create a budget is fundamental to a family's security," says Caren. "Instead of thinking of them as something people need to obey or something that dictates how much money a person spends, we need to start thinking of it as a great tool to help people make positive decisions about money, and to avoid unnecessarily stressful situations."
Caren and The Hendrie Group believe a thorough and realistic family budget will:
o Give a clear visual of what is being spent compared to what is being earned.
o Help determine any optional expenses, so individuals can make a practical and informed decision if spending needs to be cut back temporarily.
o Identify spending habits.
o Determine an individual's capacity to save.
o Reveal spending patterns, making it easier for families to prepare for periods of little or no income.
o Keep people on track financially. A successfully implemented budget increases the likelihood of accomplishing financial goals, and helps to avoid monetary stress or pressure.
Caren Hendrie teaching speciality is learning how to budget, especially for mothers, through a thorough understanding of money and finances. She also mentors busy women in both personal finance and business growth. Caren currently has 11 people living in her household, so along with 20 years of financial expertise, she also brings a lot of practical experience to the table. www.hendrie.com.au
"The Hendrie Group has so many tips for saving money to pass on to families. Having financial security creates a sense of freedom, and a space for growth and possibilities, and a clever budget allows that to happen," says Caren.
The Hendrie Group is possibly the most well known financial services firm in Melbourne's outer-east, with a proud reputation for integrity and professionalism. The firm offers a range of business mentoring services, which helps entrepreneurs increase business profit, build businesses, monitor company expenses and cash flow, protect business and key earners, and understand what 'the numbers' actually mean for a person.
To learn how to create a budget with the support of Caren and The Hendrie Group, to ensure more financial stability, visit www.hendrie.com.au.
Material contained in this article is a summary only and is based on information believed to be reliable at the date of publication. Suggestions made in this article are not recommendations or offers to act as they are of a general nature only and may not be appropriate to your specific circumstances. They should not be acted upon without first consulting Hendrie Financial Strategies Pty Ltd, as representatives of Madison Financial Group Pty Ltd AFSL No 246679.
Source:
*http://www.mymoneycoach.ca/what-is-a-budget-and-budget-planning-forecasting.html
About The Hendrie Group:
The Hendrie Group specialises in the accounting and financial needs of business owners, particularly in the building and construction industry. The company has the size and expertise to help clients build their business successfully, as well as achieve a better life for their family by focusing on financial security.
The Hendrie Group helps families gain confidence in making important business and financial decisions so they can live comfortably and achieve their lifestyle goals.
The Hendrie Group
Caren Hendrie
+61 (03) 9725 2533
support@hendrie.com.au
Source: EmailWire.Com 
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