Financial planning and saving for housewives
Who is really responsible for finance at your home? Do you think financial matter only MATTERS to your hubby or father? Well, everyone has their perceptions and mine is simple “MONEY MATTERS” and if we share all load of our home why not financial planning.
What is actually Financial planning?
Don’t worry I do not finance graduate and nor in the mood to give bookish terminology about the same. I am a simple DOMESTIC ENGINEER (a changed version of housewife 🙂 sounds good one ) and I will share my version of financial planning.
So, according to my “financial planning means making a “BUDGET”. Now for me, the budget simply means “Telling MY money where to GO“. Well, I am a domestic engineer of my house and nobody moves out without my permission so how can I allow my money.
Money saving tips for homemakers
Education: One of the most important factor, If you are educated you will never be dependent on anyone. Get educated about new trends, investment plans and above all financial security. Education doesn’t mean only getting a degree from college, yes! It does matters but apart from this just learn your own money management.
Budget: I already said it’s your house, your family, your husband, your kids, and even your money. Set your budget as you set some rules for kids and husband(Hope you all do)…It’s time to set your budget.
Necessity Vs Desire: There is a big difference between two and that need to be understood. Kids education is a necessity and just to buy unwanted toys is your desire. Learn this yourself and teach kids too.
Comparison: Our biggest problem is today we all living in a different mindset. Checking up other Instagram posts or FB vacation albums we decide our lifestyle. STOP COMPARING your life to others. My mom used to mention “Live within your capacity“. You will be happier if you learn this in life!! Don’t buy a smart TV because Mrs. Sharma bought last week.
Cross Check: This will surely going to help. Always cross check the price of any product in different stores while shopping. You can see a huge difference in your bills and can save a lot and lots. In this e-commerce world easy to do that in terms of grocery to fashion trends.
Shop Wisely: It’s raining sale now everywhere from online stores to offline stores to malls. But, you need to understand what to buy and what not. As we all pay by card (even I do most of the time) but good practice is to shop with cash, you will see the change as when you will have less cash in hands you will tend to spend less.
Read also: Easy way to pay bills
Outings and Vacations: We all need break and vacations but every month is something definitely going to hit hard on your pocket. Plan your vacations well in advance, so that you can book your tickets and accommodations beforehand.
Be Vigilant: Keep a track, be your own spy and check out how much when and where extra you have spent and what could you can do to save next month.
Investment/Savings: There are so many policies and investment plans in banks and mutual funds for housewives which give a great rate of interests, learn about SIP and Pension plans for housewives and start investing. This will help you in tough and happy times.
This article is not published as financial advice or any other financial legal issue. We recommend you to consult your financial planner before investing in any financial decision.
© Ruchi Verma
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