Friday, September 2, 2011

Mommy Moments – Financial Tips

mommy moments

This week on Mommy Moments, we’re going to talk about finances.

For those who knew me really, really well would know that I’m not very good in handling money. I am a compulsive shopper. Everything changed though when I met my husband. Hubby is overly thrifty and he is the kind who would really save for the future.

When we were still BF-GF, we’re both students then, we used to save 5 peso coins and put it in a coin bank. Whatever we saved up is what we used when we go out on dates. We’re still doing it now.


GEDC1972
Our 5 peso and 10 peso coin savings in a used Pringles container

When Johan was born, I wanted to save all the cash gifts given to him in a bank account under his name. It never materialized though and I have to get to that soon for his birthday. For the meantime, I opened a bank account under my name and that’s where I saved his cash gifts from his baptism and Christmas. This is also where I withdraw my Paypal money from my online jobs.

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I plan to make Johan a better money saver than myself. As soon as he learns the use of money, I am going to teach him to save for his wants. I plan to give him his own coin bank and whenever he wants to buy something he would have to save up for it. I would like to teach him the value of money and the value of hard work.

As for my tip, there’s only one tried and tested scheme that would help you save up and this is what I usually tell my younger siblings: Live within your means.

If you want to learn more on saving and other financial matters Francisco Colayco’s blog is a good read.

Happy Mommy Moments!

8 comments:

Olga said...

I'm a big fan of Mr Colayco too. I learned to pay myself and allot savings before budgeting for expenses. ^_^
Here are our toddler savings tips.

Hazel said...

Saving together for dates is a new-to-me idea, but I seem to like it. Thanks for the Mr Colayco link. I'll check that out.

Tintin.Tetay said...

Visiting from MM. Thanks for sharing and have a happy and safe weekend!!!

PS Maybe you can share with me where you find your online rackets. Thanks.

Rcel said...

Live within your means. That is so true! I try to, because I don't want to be drowned into debts! :) Great one, sis!


My MM Saving Tips for this week is up, too! I welcome your visit if you have a chance! ;-)

kimmy said...

teaching our kids to save is very nice. love your picture of pringle-turned-coinbank, hehe..

Tetcha said...

Living within your means is the key to living a debt-free life. Thanks for that great tip! I hope you can visit my MM entry, too: http://www.pensivethoughts.com/2011/09/mommy-moments-financial-tip.html#comments

MoM from Manila said...

i liked the idea of saving for a date...my kid also maintains his own piggy bank for his transformers toys.

hope you can take a peak at our financial tips.

Chris said...

you are so correct - live within your means. i have foregone my credit cards and i am living within my means since I stopped working many years ago.

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