People say that 5-10% of your total spending may be used to buy things that are not needed. In my case, I spend more than that on unnecessary things. But, since I got married, moreover have a child, I have to be able to manage the family budget, so that me and my husband can map our future plans clearly such as, buying a house, saving for our child’s college, planning for retirement, or simply setting aside cash for a SPECIAL TRIP every year ^_^.
To manage all those expenses above, I have opened 4 bank accounts. 1 for the house credits, 1 for education and retirement insurance, 1 for monthly expenses (electricity, phone bills, internet, etc), and 1 for our saving. For example, every month my husband receives 100.000 rupiahs. Then, from his account I transfer 30.000 to house-credit-account, 15.000 to insurance-account, 25.000 to our saving account, 10.000 to monthly-expenses account, and the rest 20.000 stays in my husband accounts. The rest 20.000 is used to buy monthly groceries, watch movies, pizza day, etc. What about my salary? Because my salary changes every month depends on the inquiries, my salary is also used to to buy monthly groceries, clothes, party, or other emergency expenses, and the rest will go to the saving account. So far, this way of management is easy enough to be applied. ^^ Hope this method will save my family budget.
So, Moms, How do you manage your family budget?