Where our Money Go

One of the blessings of being married in my 20's is having developed the skills to see the "beauty" of money in a mature way.

1. Pay an Honest Tithe
Marvin Ashton said, "successful financial management in every LDS home begins with the payment of an honest tithe." It is our goal to be honest with out tithes. We've been doing this before we got married so it never is a problem at all.  We just pay out tithes online. Thanks to BPI for making it possible with ease. No matter how meager we earn, we make sure we put this first.

2. Use a Budget
Even before I got married, I already keep track of my expenses. It requires diligence to really take note of daily expenses to the very cent. It takes 100% discipline to stay on your budget. As in!

Money management when mastered is an accomplishment. Spending patterns is way different when you are single compare to when you you are married. But because I was able to see things in a wider perspective, seriously I was able to save more when I got married. Plus there's a husband who is your partner in money matters.

I usually get hold of the money so I also create a budget plan for certain categories like food, home investment, retirement fund, savings, transportation and  apartment rent. The secret is really to just stick to your budget no matter how enticing advertisements are.

There's evaluation time at the end of the months so we can see where our money go.
3. Invest Wisely
The best time to prepare for the future is when you are still able to do so. If you are married, you have someone to talk to about financial goals and you will realize that indeed  this is something not to be neglected.

We have already started investing for our retirement. And we already planned to add an investment for our future home. Hopefully we can move in soon. Marvin J. Aston said "Work toward home ownership. Home ownership qualifies as an investment, not a consumption. But the type of home your income will support." Homes need not be that expensive. The important thing is you can have something you can call your own. We've been renting and it's simple money out. So we decided to invest in a home we can afford. It's a rent to own town house so still a bit of renting but after a span period of time it will be over.

4. Keep Emergency Funds
This is so crucial. Tomorrow can be full of uncertainties so better be prepared before it's too late. Emergency funds is emergency funds. It is not a fund to buy shoes or clothes. It's something you need to spare for "emergency".  We just let it sit there but hopefully no emergencies will take place. Hehe.

5. Keep a 72 hour Kit
This would include food and supplies that you will be needed for 3 days in case emergency or typhoon take place.


6. Save while you still can
Are you a saver or a spender? Butch and I are just blessed since we have the right attitude when it comes to finances. I really see to it that we have savings no matter how little it can be. Remember, savings is savings. Don't move an inch closer to use it to buy stuffs.

6. Reward yourself
Of course we are working hard so we also reward ourselves. But reward with some limits even if you can afford to buy.