budgeting - how?
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I put part of salary in another account each month. I forgot what the pin number for that other account, so can only put in, hard to take out. Find this helps. Also results in me feeling very poor immediately after payday, at least not so tempted to spend without 2nd and 3rd thoughts.
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Im a SAHM currently. DH and I do not keep track of our expenses in detail, as we find it troublesome and unnecessary. But because we have the same mentality, we manage to save up quite a bit over the years - if can eat good food at hawker/food court, why go restaurant? We will always first think of the opportunity costs of eating at restaurants, buying luxury items etc. But of cos once in a while (say once a week) we do go nice restaurants with parents and family members. I only buy clothes when there's a good sale, never at full price. DH hardly buys clothes. We still go on holiday with DS once yearly.
But I have to admit, I am quite a sucker for good educational products for my DS. That's where I tend to spend the most unfortunately. (this part I am always in constant debate with myself!!) But whenever I buy such things for DS, I will naturally know how to cut down on other things to balance up. I do not have a mthly allowance from DH; I just spend using a supplementary credit card from him. Of cos aim to spend wisely and I always tend to think thrice \"do I need this\" before buying. (though sometimes its hard, I know..)
So I think bottomline, it all boils down to discipline. If you have the discipline, there is no need for spreadsheets etc. Unless of cos you have the time and enjoy doing it!
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For me I love to spend on toys for my kid, especially educational toys, but mostly cost less than $15 each... unless for those more expensive ones like lego...
I buy toys, although cheap buy more... :sad: Total up spend a lot. -
I try to save 35 percent of my take home pay every month. I still feel that I m not saving enough. I know of people who can save 50percent of their pay. Whoa!
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Btw do you still give your parents after married? I give my mom $500 every month and she still think it’s not enough. CNY red packet not counted.
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peapot:
Btw do you still give your parents after married? I give my mom $500 every month and she still think it's not enough. CNY red packet not counted.
yes, dh gave $$$ to my parents (when they were still around) and handicapped sister. he also chipped in paying for the maid. everyone in the family appreciates his gesture.
i also give my handicapped sister some $$$ (from my savings) when she needs to see dr or when she goes out (rarely) for food or shopping.
but if you are the only one giving to your mum, $500 might be little to her especially if she has medical, electricial etc bills to pay.
whatever it is, give yourself a pat on the back because there are many others who dont bother to do so. :rahrah: dont get upset by her remarks. -
Thks lolmom, but I have 2 more brothers. Anyway, I guess money is never enough.
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Funz:
Understand the inconvenience but this will be second nature after a few months. Initially, I hated having to clean up a whole chicken but the savings can be substantial especially if you buy frozen chicken compared to the pre-packed parts. Since you have a maid, let her get into a habit.I tried to save a little. Inspired by this cooking show I saw on cable, I decided to buy whole chicken instead of pre-packed parts, like fillet and breast meat. Showed my helper how to debone the chicken and get the different parts and still have the carcass to make into soup stock.
Lasted me 2 marketing trips and I am back to the convenience of buying pre-packed parts. :razz: My helper went back to the habit of chopping up the whole chicken and cooking it bones and all in 1 dish. And I find it too tedious as well. Moreover, in asian cooking we tend to cook the chicken with bones on.
Skinning chicken drumsticks and thighs when its 30% frozen is fast once you get the hang of it. -
ohdaddy:
Mine always asked to go restaurants whenever we walked past them. After I explained to them that the money we saved from eating out goes into their various enrichment and for their overseas trips organised by schools(at least a few times to drill that into their heads), my children will now insist on eating at food courts if we go out.24hr-mum:
but one really bad thing is when my kids esp #1 grew older, like now, she is 8, she will complain if we eat at hawker centre n coffeeshop cos she is so used to the clean and good food at hi end outlets!
This I also experiencing as my daughter would frown when we say go hawker centre makan! Sometimes I get upset and want to tell them when-policeman-wear-shorts stories of eating in hawker centres and kopitiams
I think we need to go into the details of how much one can save eating in restaurants vs food courts vs at home. I will calculate and do the comparison when we eat!
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My gal also the same, always asking for Macdonalds. If you go coffee shop no free toys.
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