Getting Back on Track

Admittedly, I failed to track our household expenses for the last months. Yet, I’m quite sure that our expenses ballooned because of Baby C.  It’s expensive to have a baby.  Milk, diaper, nanny’s salary and vaccines eat up a portion of our household budget.  Our electricity went up by 100% too.  But the happiness of having our darling girl is PRICELESS!  Decreasing the budget for Baby C is definitely not an option.  My husband and I agreed that as much as we can, we will only give the best for Baby C when it comes to her needs, comfort, health and education.    

There are things that can’t be scrimped on.   There are also expenses that can be slashed.   I assessed our combined monthly income vis a vis our monthly fixed expenses.   I  realized that our fixed expenses (baby's milk and diaper, utilities, condo unit amort, house and lot amort, lot in Naga City amort) do not  exceed 50% of our  monthly income.  It means I  could do better – I could save more.  It means I should cut my variable expenses.  It means I am overspending. 

I  realized that I am spending so much on food and convenience.  I’ve been buying unnecessary food items aka junk food.  I also tend to junk foodstuff because of my failure to monitor their expiry date. Such a wastage!  I’ve been taking a cab instead of riding a  jeepney.  I’ve been eating out almost every week.  See, I’m being “feeling mayaman”.   

As a result, our savings is payat. Our stock investment is payat.  Our UITF is payat.  Ako na lang ang hindi pumapayat. Lol.

I realized that I’m starting to go back to my old ways.  No. That can’t happen!  

Because of the foregoing realizations, I wrote a sort of an action plan.

1.       Plan meals.

2.       Make a grocery list based on the planned meals.

3.       Buy more veggies and fruits  which are in season.  Stop buying junk food.

4.       Recycle leftover.  Convert it into another ulam.

5.       Bring baon.

6.       Follow the first in first out (FIFO) method and always check the expiry date.

7.       Wake up early and move faster so that you will not take a cab just to beat the bundy clock.

8.        Limit eating out to two per month.
9.    Stick to the budget and track your expenses.

10.   Focus on your goal - FINANCIAL FREEDOM.

If I follow these, I'm quite certain that our monthly savings will increase by at least 50%. 

Thank you for reading.