As a homemaker, I am not just involve in chores and making my home tidy. I also do the finances and manage our money. It is not an easy task, specially if you need to balance out the expenses and the savings. Good thing there I encountered a financial blogging portal that will surely help in managing our finances.
The bulk of our expenses goes to food. I think more than 30% of our income goes to food. For a family with 4 kids, well it’s kinda expected that we spend much on food. We spend on grocery and also buy food at the wet market. From time to time, I over spend on food. I’m still trying to learn how to manage our food expenses well.
When it comes to savings, we tend to put away what is left of our money every payday. A friend said that in order to ensure savings, what you need to do is take away 10% of your income and consider it as your savings. For us, it won’t work that way (although for the past few months, our savings is more than 10% of our income), we have to prioritize the expenses (specially the bills) before we can put money to our savings account.
With the little amount we are saving, I know we soon need to invest it, so that our money will grow. And with the help of the blog I just encountered, I know investing would be much easier.
How about you my fellow homemakers, how do you manage your finances?