In this post, I am going to share with you some of my Thrifty Living tips, especially to the first time mommas out there, on how you can somehow survive the crazily puzzling world of motherhood and parenthood. Especially the financial aspects of it!
I’ve been practicing Thrifty Living ever since. Thrifty not in a negative way but I think I can say that I am someone who always makes sure that I make wise decisions when it comes to spending money.
My thrifty attitude grew a lot stronger when I became a wife, moreover, when I became a momma. As first time parents, giving the best for the family and saving money for the future at the same time, are the top priorities of me and my husband.
Building a home and raising children are one of the toughest jobs in life. Geez. It ain’t easy! I still wonder how my father and my mother were able to raise us, their children of 3, when raising a toddler somehow makes me feel crazy sometimes. Lol. But somehow, thank God that we’re surviving.
How do we do it, really?
1) Budgeting is the key!
Budgeting is discipline. I learned that when I was still in College. Back to those days, I am being given my allowance of Php 500.00 per week and it’s up to me how I’ll make it last the entire week. Even though I go to school 6 days a week, my allowance will just be the same. From that experience, I’ve learned how to really strictly follow a specific budget for the day. And surprisingly, I was able to open a bank savings account from what is left from that weekly allowance and I still use that same bank account up to this day. 😀
It’s pretty much the same now that I am already a Momma. I think my husband thanks me (though he does not say it, I just assume) that she married a woman who knows how to do budgeting of money. Because he just can’t. HAHA! I just really take budgeting of our money very seriously. I hope you do, too. 🙂
2) A first-time soon-to-be Momma? Breastfeed your baby.
Breastfeeding my son allowed us to save really big! If I gave up on my breastfeeding journey, we would be spending approximately Php 4000.00 to Php 5,000.00 a month on formula milk alone. And that’s one of the reasons why I pushed myself towards breastfeeding my son.
If you don’t have other health complications that would prevent you from breastfeeding you little one, I urge you to do the same. Go breastfeed! Not only will it save you money, but it’s safe, it’s healthy for you and your baby.
And also, don’t ever doubt yourself. When I was starting, I had countless struggles especially when I was still working in the corporate office. But that didn’t stop me. I trusted my ability to produce milk. So believe in yourself, too. And if you’re a Dad, be a breastfeeding father by showing full support to your wife. Believe me, she really needs it!
3) Be a Modern Cloth Nappying Pinay Momma / Pinoy Dad
Using cloth diapers is one of the most economical moves my husband and I has ever made. I am glad my husband supported me when I am still building my son’s nappy stash because it can get magastos at the beginning. But once you’ve reached your nappy stash goal (ideally 30-40 cloth diapers), you will then feel the fruit of being able to save money instead of spending it on buying disposable diapers. At least, cloth diapers are reusable. Plus, you also help save our Mother Earth!
If you’re keen to learn more about cloth diapers, join MCNP or Cloth Diapers Addict PH – cloth nappying support groups in Facebook. You’ll learn a lot from there, plus there are BSTs of cloth diapers.
4) Invest in your (and your family’s) health.
This is really an important point. I think, especially for those like me who lives in the Metro where the healthier the food is, the more expensive it becomes – eating nutritious food is a bit difficult. A fast food cheeseburger is way cheaper than a bowl of caesar salad, right? So if you’re really thrifty, you’d rather be ordering that cheeseburger because it’s more filling to your hungry tummy.
But if you’re a smart spender, you’d rather buy fruits and incorporate veggies into your daily meals to make sure that you and your family are getting the enough nutrition. After all, that one month worth of nutritious food is maybe just 50% of your one-day worth of hospital bill if you get sick.
So invest in your health. Eat healthy. Drink your multivitamins. Exercise. Prevention is still really way better than cure.
5) Learn to invest.
Millenial people (present! Hihi) are lucky enough that financial literacy is accessible enough through the use of the Internet. I actually learned a few things about ways to invest money wisely rather than just putting it all in a savings bank account by just reading blogs in the financial niche. And by asking some friends, of course.
Right now, my husband and my son have their own insurance from two different well-known insurance companies; while I invest in a Mutual Fund I opened last year. It’s still in my financial goal to avail and open an insurance account for myself (this actually should ideally come first before other investments) and to learn how to get the ball rolling in the stock market.
I will get there, eventually…
But I am glad that we have already started with our financial goals as a family. Somehow, I know that my husband and I will be retiring 20-30 years from now and be able to live a comfortable enough life because of being thrifty and making wise decisions today.
By the way, if you plan to meet a registered financial planner, I can refer you to a friend of mine (the blogger behind JuanPersonality!). He’s the one who conducted a financial planning session for us. It isn’t the traditional I’ll lecture you something about financial literacy and offer you an insurance plan afterwards kind of talk. I swear it’s way better than that as it focuses more on ways how you can better manage your finances. 😉
6) Needs > Wants
Reality check. Because I grew up with the thinking that I have to earn money before I could afford some of the things that I need, I learned to discipline myself to only spend money on the things that are needed. In short, I’ve learned to set priorities.
So if you really want to live life wisely, learn to prioritize.
Those are the things I practice towards Thrifty Living. I’m not kuripot. I am just wise and tipid. I still make sure that my family is still living a comfortable life even though we’re living frugally.
How about you, dear reader? Do you have additional tipid tips you can share to me? Drop it in the comment box below! 🙂