Friday, September 2, 2011

Mommy Moments - Financial Tip



I'm embarrassed to admit it, but I'm a gastadora to the highest level. Motherhood has not tamed me at all. If dati I spend on myself, now I spend on my kids. If I see something that I think Milo or Pretzel will like, I'll buy it in a heartbeat. Maski hindi kailangan, I'll still buy it. Minsan nakakalat nalang sa bahay!

Being dora, I've learned to manage our finances the hard way. If you're broke, don't resort to 5/6 or credit card cash advances. Swallow your pride than be in neck-deep debt. Ask your parents, your siblings, your friends. They are more than willing to help. But, please, stick to your word when it's pay time. Pay when you said you'll pay. If you can't, at least have the courtesy to let them know that you'll be a little delayed in paying them or ask them if you can pay them muna this amount and will give the rest some other time. Pero huwag naman one year yung "some other time". Be considerate, reasonable, and responsible.


Income - Savings = Expenses

It's truly important to save. If you cannot afford to open a bank account or invest in stocks or buy an insurance, take the simplest form of savings - the alkansya!!! Start with 50 bucks a day and in a year, you'll have 18,000.00. But what you get inside that piggy bank, don't get it out UNLESS it's an emergency. Hair rebond and tambay at Starbucks is NOT a 911.

And, it's good feng shui daw to say that "Konti lang pera ko." instead of "Wala akong pera."

I think I should start practicing what I just preached!!!

PS

I was browsing a parenting forum that I'm subscribed to and one of the posts is very timely and very inspiring. Let me share it with you:
"eto yung natutunan ko sa church namin.. (young single mom here)

7 Major Points in Budgeting

1. everything belongs to GOD
2. Pray. ask wisdom before spending.
3.record ALL income for the month
4.Give GOD what is RIGHT and not what is LEFT.
value of tithing Malachi 3:6-12; Luke 12:21
10%-tithes most important hindi pwedeng 5% :D LAW ni GOD yan bawal kumwestyon
%-offering kung magkano ang bukal sa loob mo..
%-savings kung magkano ang plano mo.
5.Budget from what is LEFT.
a. record all expense
b.allocate expenses on PRIORITY NEEDS ex. food,rent,bills and education
c.STICK to yor BUDGET(habit becomes a lifestyle)
6.Have ENVELOPE CASH
a. Buy abc's(no.5) only if there is money in envelopes
b. Pay in CASH Romans 13:8
7. Teach the system (tithing and budgeting) to your children Proverbs 22:6

7 DONT's in handling your Finances
1.Don't buy things if you don't have the budget for it.
2.Don't buy anything you don't need. 1timothy 6:6
3. Don't borrow to pay your debts.
4. Don't borrow to but things that depreciates
5.Don't borrow/lend at high interest
6.Don't gamble. Avoid vices
7.Don't be eager to get rich quickly. Proverbs 12:24

Grabe si GOD hindi tayo pababayaan pati sa pagbubudget nasa bible! Amazing! GOD bless everyone".
This was posted by SP full member mumzeth. You can read the original post here.



5 comments:

Rcel said...

it is indeed very important to save. and like you, i should set as an example to my daughter in saving. lol


My MM Saving Tips for this week is up, too! I welcome your visit if you have a chance! ;-)

Hazel said...

Thanks for dropping by my post too. May trick dyan sa mga utangera - hindi mo nalang pautangin hahahah!

Tetcha said...

You're right, Mommy, in saying that you have to pay your debts on the day you promised. This way, people will know that you fulfill your promise and that you're a person who can be trusted. Happy MM, and thanks for the visit!

Chris said...

Thanks for the great tips! I need to start saving myself!

Vayie...♥ said...

Hay naku. Epic fail ako when it comes to saving. Old habits die hard.

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