ear ladies, each one of us have some money saving tips.lets share them 1.each month i put money in separate envelops labelled fixed(school fee,maids pay,milk money..);necessities(rashan,veg...);;luxury(movies,books,cds,resturant treats,toys..) now,i spend money from these envelpoes as the need arises.on last day of mth i check is some money if left in any envelop.if it is there i spend it as i want.sometimes it goes to temple box,sometimes for treat to kids & so on 2.my MIL puts loose coins in mud piggy box.over the yrs she had 7 boxes collected.so,last yr on her 50 marriage anniversary she broke them all.it turned out to be almost Rs36000.she donated all. again,she has stared saving this way. do share ur tips pragati
Wow...thats nice way to organize your money. How do you decide how much to put in each cover?Do you put little extra than required?. I know,it takes practice and patinece to stick to your budget strictly. Keep it up and good luck. You MIl is very generous. May god bless her . Anu
hi hasiini, yes there seems to be a duplicate thread. well,i put extra in the envelop named necessities.the one named fixed has fix amount as i know how much is school fee and so on MIL ,is not very generous but this time over her sons(dh &bil ) insisted.she is a great lady otherwise,has managed to raise 4 kids on very less income(fil is small scale shopkeeper). do share tips pragati
That's a nice idea abt saving money for different expenses at the start and then spending within the limits. I too plan for it but somehow never happend so far..
We have a separate account for expenses. We put the needed money at the starting of each month and start using that account for all our expenses. We won't use our other accounts debit cards. So, other accounts are comparatively safe. Also, even if we loose our expense account debit card, we won't loose much money. Also, I have a budget planner excel sheet with me. I note down each day expenses at the end of everyday. I already have a budget for everything (Groceries, Gas, Phone, Electricity, Utility etc). If we spent less money that month, We can do whatever we want with the remaining money. If we spent more money, we need to cut down some of our interests (like Starbuck's coffe, eat out) that month. It works very well. Also, I notedown each and every price of things that buy in my "minor tracking sheet". This helps me to compare shops for each thing i buy. I already posted my budget planner in this section.
hi uma, i finding noting down everypenny i spend very helpful. not only does it helps to keep track of our spendings but in my case showing me that i really have spend that much of money & not lost it as i tend to hold money in hand & have managed to drop some before.. also,i can easily find the cost of some thing or service i paid for some time back.like the cost of vaccine i paid for my elder son & how much to expect for the younger one so that i can allocate exact amount in the beginning of the month. pragati
