What I have learned while tracking expenses?

October 30, 2022

Living within your means is easy to say yet difficult to follow but with perseverance and discipline still we can.

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Photo from Unsplash by Sincerely Media

Time flies so fast and we are now in the last two days of October. On the next day we will be in the first day of November,a new month, a second to the last month of the year and most people will celebrate Halloween. Next is December and yes Christmas is coming.

I participated in the blogging contest of @hiveph community about financial literacy and financial education. I just felt sad that only few were joined. In my part, I was happy that I really pursued in joining it not just for a contest but because I really learned from it.

For the last week's topic here it is:

4th Week: A Reflection on Implementing Your Budget Plan and Summary of the Data you gathered for the past 30 days.

My reflection

Living within our means is easy to say but difficult to follow.

It sounds fun because in my previous article Live within your means I encourage everyone to do it but yes many commented that it is so difficult to live with it nowadays because price of most goods are increasing.

In myself, I really tried hard to live within our means but after seeing the summary of the data I've gathered I've noticed that our expenses is more than my husband's salary or income. (I will show the summary of the data I gathered below.)

Despite of that, I never tried to borrow money from anyone so I won't have any debt. I know that having debt will add another problem in budgeting. But instead, I use some of the savings that we have.

Allowance took a lot of the budget.

Foods aside from rice and groceries are included in our allowance expenses. When we bought fruits, vegetables and fish it will be from the allowance budget and this will becomes short most of the times. Fare, food for merienda also comes from it. Oh food! there were times that we cannot say no to foods especially when we are hungry, especially when your son ask for something and he badly need it.

Add additional budget for family members and friends.

There were times that family or friends will visit and off course you need to provide food for them. There were times that our young people would ask we have something to eat because they felt so hungry and we need to help or give food to those hungry people. We will bring them to our house and offer simple food to them. Sometimes we will invite my sister in law and his family to drop by for a simple dinner. Though we don't need to offer rich foods but still it will consume food. Sometimes we can cookthe food which is budgeted for days or weeks. So, always have savings or extra budget for it.

When tracking your expenses, always let your partner know.

My husband knew that I am busy with my cellphone, he knew that I am writing for a blog even he doesn't understand it well. When I join this challenge, he didn't know that I am tracking our expenses from the budgeted money. One day, I told him to buy vegetables and when he got home, I asked the prices of every vegetables. At first he answered in one item, then I asked again for another until he became annoyed, lol. He felt that I am looking for every coin he spent, lol and then I just asked how much he spent for all of it, lol. So, better let them know, lol.

Tracking expenses is a big help in budgeting

I already mentioned it inmy previous article about this challenge but I want to write it again. Tracking our expenses will help us know where every peso goes. It will help us decide how much budget we would allocate for a specific need. On the otherhand, it will also shows us what thing cost us a lot and for sure we have a lot of expenses in food.

Temperance and self discipline is needed to follow the budget.

Surely we can't follow our budget if we don't have temperance in food, shopping (like shoppee?) and other things that we love most. It is good to have a principle of food is life but sometimes temperance is necessary too. Self discipline is also needed in all aspects.

Small income, small budget

This is the reality, if we have small income, of course we have a small budget at sometimes our income is really not enough to supply our needs. The minimum or below minim wage earner suffer from this problem. I always pray that God will provide our needs despite of a small income. This is also the reason why we need extra income. This is also the reason that I am trying to find side hustles and hoping to help my husband financially.

Those are the reflection I have all throughout the month after joining this challenge.

Summary of the data gathered

Since I only track my husband's salary for this month as our main source of income, here it is.

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Might be his net salary is so small compared to yours but we are grateful having it. We are thankful because for sure others have lesser than it. So, we need to be thankful for whatever we have.

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Here is also our expenses for the month. Some expenses that being payed by our side hustles income is not included in here like for example our LPG and load which is being paid by my income in load retailing.

Plan to track our expenses as a family

I am planning to track our expenses, including my husband's expenses this following month but I don't know of he will cooperate with me. I know most men are not fond of it, will you agree men?


Thank you so much for taking time to read this blog.



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32 comments
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Parang gusto ko din gawin yan Ate Jen, yung e-track lahat ng expenses ko. I really want to be more aware sa mga expenses ko po para matuto akong maghandle ng mga finances ko. ♥️

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Try mo sis @teacherlynlyn, start ka ngayong November 1. You will be amazed or ma shock ka sa expenses mo hehehe, atleast you will know saan napupunta ang sahod mo.

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Sana all ate sa utility bill niyo, bakit ang mura lang haha. Maganda rin sana gawin yan Ate hehe tinatamad lang talaga ako haha. Yung BSBA student ka pero tinatamad kang magbudget lols

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hahaha yan nga sabi ko self discipline din ang kailangan hehehe. Yes yun halos comment ng iba when i first show my budget. Sa kuryente isa sa pinakamura daw talaga ang SOCOTECO II. Sa tubig naman 10cubics ang minimum 195 lang ngayon peru next year mag increase daw sila ng 10% ata every year.

woi, @iamboring i saw you sa noise hehehe di mo ako pinapansin doon hehehe. fourth day ko pa lang doon hahaha

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It pays to know where your expense are, some are pretty much fixed but others can be adjusted to keep your targets and goals in line.

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It's hard talaga if thr expenses is much more than the income. If wala manding side hustle ee talagang sasakit ang ulo kung saan kukuha ng ipang gagastos, good thing site like this exist, natutugunan nito ang ilan talagang pangangailangan ng bawat isa here. And, I think I'll try ulot to track my expenses. I think, tracking it tru writing in a piece of paper is much easy kesa sa phone kasi nalilimutan ko pa rin minsan, lol.

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Paper lang din ang kaya ko sis kasi haven't try pa sa cellphone like sa ginagawa ni @cthings sa pagtrack ng expenses nya.

Try mo, go para malaman mo expenses mo hehehe.

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Meron ako nong app, kaso daming anek anek kaya mas maganda sulat, tatry ko lang namam 1 month expenses ko hahaha

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One of the goal of tracking your expenses is to see the discrepancy. People fond of not looking at the budgets, and what was remains for the idea of its just a small counting numbers, which wasn't. It just proves that we only lives as day to day, there no remains as we saved it. A harsh reality actually. That why I wanted to remains and stay looking poor, uwu other people not just tracking the budgets, they also needs to prove. Hehe wala pang taxation yarn. Uwu

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You're right @eunoia101 makikita talaga ang kulang or subra kapag mag track ka ng expenses and for us kulang hahaha...

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give it a try with your hubbie.. hehehe

I tried to track my expenses myself... after a week or two, I can no longer find the notebook that I was using to log my expenses. hahaha

But I will start (for the nth time) again this mont.

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Ako na gusto mag-try pero wala pa ding time na gawin yan. Hehe

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Ilist mo lang at the end of the day yung expenses mo sis. Try mo

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Try ko sis kung may time pa ako for that. For now, hanap muna nang tamang tiyempo.

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Congratulations @jenthoughts! You received a personal badge!

You raised your Hive Power every day of the month! Enjoy better curation reward and more to say in governance.
Participate in the next Power Up month to get another one!

You can view your badges on your board and compare yourself to others in the Ranking

Check out the last post from @hivebuzz:

Be ready for the 11th edition of the Hive Power Up Month!
Trick or Treat - Share your scariest story and win your Halloween badge
Hive Power Up Day - November 1st 2022
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Congratulations @jenthoughts! You received a personal badge!

You powered-up at least 10 HIVE on Hive Power Up Day!
Wait until the end of Power Up Day to find out the size of your Power-Bee.
May the Hive Power be with you!

You can view your badges on your board and compare yourself to others in the Ranking

Check out the last post from @hivebuzz:

Be ready for the 11th edition of the Hive Power Up Month!
Trick or Treat - Share your scariest story and win your Halloween badge
Hive Power Up Day - November 1st 2022
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Yung ako lang mag-isa pero mas malaki pa expenses ko sa inyo. Ang hirap talaga mag budget, hays.
!PIZZA

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Okay lang yan @ayane-chan kasi baka mas malaki din naman income mo sa amin. Kadalasan kasi kapag lumalaki ang income, lumalaki din ang expenses hehehe. Ang mahirap lang if maliit ang income tapos mas malaki ang expenses yan ang din okay. But don't forget to save, yan ang importante din. Dapat may savings talaga.

Thanks for reading.

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!LUV

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Thanks for the visit and for the luv @juanvegetarian. More blessings.

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Welcome. Eto pa ang isa... 😂 !PIZZA

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Salamat ulit baka meron pa dyan hehehe

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uwu 😁 !hbit

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Dami mo namang token @juanvegetarian. Di ko na yan alam, pizza and luv lang kasi kadalasan hehehe. Kahit di ko alam kung ano yan, salamat po hehhehe

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