Financial planning system in households

Modern variety of goods and services, and the level of financial sphere development demands a competent order ofits own finance from the households. Use of instruments of financial planning in household economy allows increasing economicquality of life of the population. Research of the system of financial planning assumes the formulation of its following elements: conceptand principles, object and subject of financial planning, sources of financial resources and means of financial planning in households.The concept of financial planning of households is considered in four aspects: as science; as academic subject and system of trainingand certification of independent financial advisers; as type of daily practical activities of household members, and as type ofprofessional activity. Subjects of financial planning in households are members of a household, or the foreign organizations and expertsworking in them. The object of financial planning is household finance and elements of household financial structure. For planning to becarried out competently, results of its implementation to be effective, it is necessary to observe certain principles: (1) purposiveness,(2) immediacy, (3) reality, (4) regulated, (5) integrated approach, (6) continuity, (7) simplicity and clearness. The result of managementof the income and expenses is the surplus, which represents a basis for financial planning. The types of surplus are: 1) the currentpositive surplus formed after receiving all the income, paying taxes, obligatory (utilities, credits, obligations, etc.) and necessaryexpenses (purchase of goods and services); 2) income from selling financial or real assets; 3) attraction of money on a commercialbasis - credits of various kinds.

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