Alleviation: An International Journal of Nutrition, Gender & Social Development, ISSN 2348-9340
Volume 2, Number 2 (2015) : 1-7
©Arya PG College, Panipat & Business Press India Publication, Delhi
www.aryapgcollege.com, www.apcjournals.com

A Study on Financial Management in Urban Families of Haryana

1. Dr. Anju Chaudhary & 2 Dr. Binoo Sehgal
1 Associate Professor, Department of Home Science, Government College for Girls, Hisar (Haryana), India
2 Professor, Department of Family Resource Management, Faculty of Home Science, CCSHAU, Hisar (Haryana), India
E-mail: anjuchaudhary75@gmail.com

Abstract

The study was undertaken in Hisar and Rohtak cities of Haryana to assess the financial management in 300 urban families having annual income more than Rs. one lakh per year. Out of 300 respondents, there were 183 (61.0%) male earning respondents while female earning respondents were 117(39.0%). It was found out that majority of the families (88.6%) used to make budget while the remaining 11.4 per cent families were not in the habit of making budget. Majority of them used to make monthly budget which was not made regularly. The majority of the respondents (86.0%) followed the budget planned by them while the remaining (13.9%) did not follow the budget while making expenditure. Similarly, a large number of respondents (79.1%) tried to control the monthly expenditure if it exceeded the planned budget while 20.9 per cent did not do so. It can be concluded that more than 50 per cent women played a great role in family’s financial management by making the budget, following the budget and controlling the budget, thereby resulting in family’s saving.

Keywords: Financial Management, Urban Families, Budget, Monthly Expenditure.