I only started saving money more seriously in 2014. It was also around that time when I started investing in the stock market. Back then, I created this MS Excel file that I would update religiously. (I actually use it to this day!) I took advantage of Excel’s autosum feature as a way of adding up the money I got to save every month. I made several tables and filled it with relevant items and figures. I felt happy and accomplished because at the end of each passing year up to December 2016, I saw my savings grew dramatically from how it was prior to 2014.
My monthly income distribution, or how I divide my income to provide for my needs and that of my family, is pretty simple. Take note that this “income” refers only to the salary I receive from my job as a rank-and-file government employee. It doesn’t include the hubby’s as we manage our respective salaries and pay for our marital expenses on a shared basis. He still pays more than I do, like he solely takes care of our house and lot amortization, which is something I appreciate about him.
Continue reading “My Monthly Income Distribution in 2016”
I grew up in a family where money is a taboo subject and financial education is never taught. I actually learned about such important concepts as personal finance and financial freedom through self-study. My mother, who was in-charge of budgeting in our one-income household when I was little, wasn’t really a good example when it came to managing our limited financial resources.
Image Source: http://connexcu.wordpress.com/2013/09/03/connecticut-gets-an-f-in-financial-literacy/
Back then, we were living from paycheck to paycheck and we were acquiring liabilities instead of assets. While my parents certainly did their best to provide for our needs, the idea of financial freedom was non-existent to them. Or maybe they knew about it, but it was just not among their top priorities.
Continue reading “Teaching Financial Literacy at Home”
I’ve always believed in budgeting. Setting up a budget may be easy, but sticking to it is hard. When shopping for Christmas, it is very important to allot a particular budget so you don’t overspend, or worse, don’t get to buy all the items in your gift list.
Compared with last year’s budget, I have less money to spend for Christmas gifts this year. Why? Because 2013 is the year we vowed to reduce our debts, and I think we succeeded in doing so though we still have to clear out a few more next year. This means I will have to rely on my expertise when it comes to budget shopping. Haha.
Continue reading “Setting Up a Budget for Christmas Shopping”
If there’s one thing I used to hate myself from doing, it’s my not sticking to the budget I set for myself. Whenever I’d overspend and lack funds to pay for my bills, I’d blame myself for not taking my finances seriously.
Fortunately, I’ve learned my lesson already. I now look at my finances in a more mature way. I make it a point to pay my bills on time and down to the last centavo. The good result? It saves me from headaches and panic attacks. Plus, it gives me peace of mind knowing that I get to pay my obligations and track my money well.
Continue reading “On Sticking to One’s Budget”