First of all wishing a very happy new year to all my readers and friends as this is my first post of 2017. We all make so many new resolutions with New Year and also stick to them for some time. For first few months we all surely try to stick to it. If I think of “Budgeting” as a mom and as a wife, there are many things which come to my mind. First of all, I try to make a list of all the important things which are priority for us as a family. This is the list of things to keep in mind while budget planning as a mom-
- Food (groceries, vegetables and fruits)
- School fees
- Rent
- Office rent (As we have opened our own office few days back)
- Extras like- Electricity bill, cable bill, phone and broadband bills, maids salary, car wash payment, kids extracurricular classes fees etc.
Now there are few of these things like kids school fees which we know is fixed and has to be paid starting of every quarter. So, I try to see how much we are spending on other things like groceries and maids salary etc. and adjust it according to the monthly expenditure in that particular month.
This was my normal budgeting ideas but in New Year we are planning some new strategies.
But, it’s easier said than done as we can never judge the future or anything unforeseen. The best way is to just keep a track of all earnings and expenditures. We all learn slowly with practice and making a budget for a family is also something which needs practice.
These were my ideas for budget planning as a mom. Do you plan your New year budget? Share some tips with us.
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January 2, 2017 at 10:14 am
That’s a great idea to make a budget of all these expenses. I haven’t done any yet but this actually seems like a good idea. I could certainly plan the creche expenses for M now.
January 2, 2017 at 11:14 am
I am also not great with all the budget planning Naba but trying. Thanks a lot for stopping by 🙂
January 2, 2017 at 10:14 am
Hiya Deepa! Happy New year! Sensible planning tips these were. I am not much of a planner and financial planning boggles me. I do have an inbuilt alarm within myself that triggers when I overspend…not a very sound system I agree but that’s how I am wired 😉
January 2, 2017 at 11:16 am
Hey Kala..happy new year to u too. I am pretty much like you only. But learning to manage them all now. It still takes me a lot of time to get hang of all this. Thanks Kala:)
January 2, 2017 at 1:09 pm
Gosh this is surely something I am poor at. In fact I have attempted budgeting so often and have often found myself not being consistent with it and not sticking to it. Agree with the uncertainty of the future the whole exercise of budgeting is the much needed thing. And surely it’s time I drove that discipline into me ?.
January 2, 2017 at 1:20 pm
I am also not very good at it but I guess we can all try for our family in new year. Thanks a lot for stopping by 🙂
January 2, 2017 at 6:07 pm
This is a great budget plan Deepa. I personally have set up a auto billing system for my monthly spending such as the phone bills and the set top box and so on. I save separately for my children, then there is the LIC. My monthly provision is done with a fixed budget and so on. I have a system of making most of them online so there is no last moment hush posh!
Wish you a happy new year dear, I would try to write a post on this to join the linky party!
January 2, 2017 at 7:47 pm
Oh ..these are some great tips Menaka. It is a good idea to do it all automatically as we have all kinds of apps and automated systems to use these days. Thanks for your wishes. 🙂
January 2, 2017 at 6:19 pm
budget is my mom’s work as I’m single btw will love your idea of how to make budget & will share with my mom
January 2, 2017 at 7:49 pm
Oh didn’t know that Bushra. I am sure your mom will already have lot of good ideas of budgeting. Thanks for stopping by 🙂
January 2, 2017 at 9:29 pm
This sounds like a great way for budget planning, Deepa! I never keep track of my earnings or expenditure. It is high time I did that.
January 2, 2017 at 10:19 pm
Thanks a lot Maliny. .not a pro at it but feel its important to control it. Thanks for stopping by 🙂
January 3, 2017 at 10:36 am
Planning is so much essential. Somewhere I feel Demonetisation has actually made us think more about our planning our expenses effectively through cash and other means.
January 3, 2017 at 11:04 am
Yes Manisha..Planning is very important. Agree demonetization did affect us all in some way or the other. Thanks a lot for dropping by 🙂
January 3, 2017 at 11:11 am
You know what- Financial planning is my favorite. As a Couple, I am the one who is more on savings and all. I always plan so that I don’t have to miss on some things. I saved for birthday presents, parties and outings and cut on my shopping.
January 3, 2017 at 11:43 am
That’s great Upasna. Financial planning is important and if a mom can handle it with perfection..that’s really great. Thanks fr dropping by 🙂
January 3, 2017 at 8:10 pm
Budgeting is a important task especially during festivals because we can go haywire and beocme a spendthirft 🙂
January 3, 2017 at 8:31 pm
Yes Richa..Festivals or celebrations need special care with finances. Thanks for stopping by 🙂
January 3, 2017 at 11:13 pm
Budget planning is important, even more important is doing it the right way. Glad you chose this topic, Deepa. I see some valuable tips in the post and comments.
January 3, 2017 at 11:33 pm
Thanks a lot Mayuri 🙂
January 4, 2017 at 11:47 am
Happy new year Deepa. That’s some great budgeting plan. I usually jot down on a small diary of mine and calculate the expenses at the end of the month 🙂
January 4, 2017 at 3:09 pm
That’s also a good idea ..Thanks a lot Shalini..Happy new year to u too 🙂
January 4, 2017 at 7:05 pm
Deepa you have intelligently covered all the expenses in the life of a mom. We are the only ones who can control and expand the expense on a particular thing.
January 4, 2017 at 9:42 pm
Agree..Thanks a lot Geethica 🙂
January 5, 2017 at 12:14 pm
Great tips, Deepa. You’re right. Financial planning is key to running our lives seamlessly, and making sure, we don’t overspend! I think budgeting helps us to keep track of how best to reach our goals and what areas demand prioritisation. I think both partners need to be involved too when budgeting, to get the desired results.
January 5, 2017 at 2:43 pm
Agree Esha that both the partners should be involved. Its difficult to manage alone sometimes. Thanks a lot for reading 🙂
January 6, 2017 at 10:17 am
I am not good at money matters. Making the yearly plan is a good way to get started and take control 😉 in this new year
January 6, 2017 at 11:48 am
Yes..try making it this year. Thanks for stopping by Mandavi 🙂
January 6, 2017 at 11:53 am
I do need to get better at this. Thanks for the reminder as we enter the new year 🙂
January 6, 2017 at 2:43 pm
Thanks a lot Chaitali for stopping by 🙂
January 6, 2017 at 2:41 pm
Loved your idea.
January 6, 2017 at 2:44 pm
Thanks Ila 🙂
January 6, 2017 at 5:42 pm
When I first considered budgeting I kept track of all expenses for 1. Month. Very eye opening. That provided the jumping off point to establish the overall budget.
January 7, 2017 at 10:37 am
Thanks Mary for dropping by..glad you liked it 🙂
January 7, 2017 at 10:51 am
Well thought out budget! I must admit I am very poor in budgeting and leave it to my hubby.I chip in only when needed.Cant admire you enough for this thoughtful post!
January 7, 2017 at 11:12 am
Hey thanks a lot Subha..glad you liked it 🙂
January 16, 2017 at 4:17 pm
This is a good idea and I would like to know more about budgeting. Hope you are coming with more on this. Btw how do I add a link to it?
January 16, 2017 at 7:10 pm
Thanks Prerna..the linky is closed for this one but we have a new one every monday. Please check that to link up.