A career woman, you fell in love, got married and then
little bundle of joys are now running around. It would have been a blissful life if not for
the budgeting of the family income. It would be exciting if the
family money is continuously overflowing. But
what if not.
Here are some ways that I can share with you from my own experience
that can keep your sanity intact.
1. Write it Down
(Photo credit: TeeRico)
Don’t keep the budgeting all in your
head. Even you have the greatest memory
in the world, you can’t trust that you can remember everything. In this digital
age, we are flooded with tons of apps for budgeting. There are simple, basic,
complicated, colorful. If you are a traditional like me, then writing is the best policy. You buy a small notebook where you record your monthly budget.
A week before your payday, jot down all expected bills to pay – rental, electricity, water, internet, school fees, etc. Keep your notebook in a place where you can always see
it or remember, like your bag. You can even recycle a few pieces of receipts that you can use the back side. If you have those fancy free journals
from coffee shop, make it useful. The goal here is to keep track of your expenses regularly.
2. Plan Ahead
2. Plan Ahead
(Photo credit: Design Pirate Ph)
Too many people keep track of their
household budget too late that they wait for the ‘petsa de peligro’. People worry the
week-by-week expenses, worse day-by-day budgeting style. What happens then is that they run out
of time to handle unexpected spending.
Here are some tips in planning ahead, list down
the grocery items you need for your next trip as soon as you finished your current
trip. This will help you see if there
are price increase and can adjust the selection in your next trip. Another tip,
if you cook at home, it is wise to list down the monthly menu so you know
exact ingredients you need to buy and cut the unnecessary spending that
normally goes to waste.
You should not only have a monthly schedule
of the bills, but a yearly one so that you can plan for what’s needed.
3. Staying Smart to Stay Ahead
(Photo credit: Money Crashers)
The most important question is, what to do if
you have extra money after all is paid and done. Many of us mothers will think, it’s ‘ME Time’, me time to go to the salon, me time to go to shopping, me time to enjoy feasting with friends. There's nothing wrong with the Me Time but the budget for this should come from your fun fund.
The best plan for your extra money is to
save it for rainy days. If you have your emergency fund covered, then the best
next option is to invest that could create additional income. Here are some investment tools you
can consider CLICK HERE.
The ability to manage the budget is something
which most working mothers learn over time until it is running in your veins automatically. It is a skill that we can learn and develop. The best way to learn it is now.
Budgeting could not be more importantly especially if finances are tight.
If you haven’t read my ebook “How To Grow Your Own Money Tree”, don’t waste your time. Download it now, it's free anyway. It has illustration guides of different investment tools that makes it easy to understand. Start growing your own money tree this year.
Budgeting could not be more importantly especially if finances are tight.
If you haven’t read my ebook “How To Grow Your Own Money Tree”, don’t waste your time. Download it now, it's free anyway. It has illustration guides of different investment tools that makes it easy to understand. Start growing your own money tree this year.
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