More on family finance..
I'm a 26 years old (turn next week!) mom with a degree in Accounting and Finance should know how to budget my money. Cliche but true! Alhamdulillah.. I'm content with everything I have in my life - my husband, my baby, my families. And my wish for my birthday this year is.. I'll be able to control my spending and be strict and discipline myself better. InsyaAllah.. ;)
So what is family budgeting? It is merely noting and keeping track our daily expenses every month. Simple as that. From there, we can categorised our expenses including savings, fixed expenses (eg. Long and short term loans), committed expenses (bills, grocery shopping, fuel and for our parents), and discretionary expenses (clothing, entertainment, food - dine ins, take outs, deliveries, etc).
Every end of month, I will plan a budget for our money and taking into account what else need to be paid in the coming month. This usually my spending on clothings and things I planned to buy. Erkk! Yeah.. Thats about it actually. Then I would check if we need to cut down on unnecessary expenses like clothing from the Poplook or Fashionvalet. *sighs* With Hari Raya coming, wise budgeting should be implemented asap!
You see, if we can successfully budget our money, we should be able to save more and spend less. NOTE TO SELF!!! Because seriously we will able to see our spending habits and how much we have wasted our money for non essential items. *usually unsuccessful! Sighs!* So... GOODLUCK to me!!! ;D
p/s: I'm currently using 'expenserec' apps to note down our daily expenses. Been looking for a suitable one with our lifestyle and so far, this apps is very promising. Hehe