Financial management within the company is a hard nut to crack for many of the business activities runners. Managing money is tough concept whether it’s budgeting, buying insurance, planning for retirement or savings. Careless and selfish uses causes to live in financial bondage. If reserved a bit of extra consciousness on the money matters, maintaining a healthy financial family is a possible task. Sound financial management requires formulation of a realistic budget. The involvement of each and every member in family is responsible for an effective family financial management. This study focuses on maintenance of budgets, accounts, purpose of savings and factors influencing efficient management of family income.