Do you want taking charge of your finances? Create a budget plan.
As a full-time mother and housewife, I understand how limited our source of income can be. With revenue coming from my YouTube videos, product endorsements, book sales, and the refurbished furniture buy and sell, I’m constantly striving to find ways to improve our financial situation.
While we may not have personal loans, credit card debts, or store card debts, we are still facing financial challenges. Last year, we enjoyed two trips to the Philippines for the book launch, Bakery Fair, and Newbee Food Expo. These trips drained our savings, and it’s time for us to take our finances more seriously.
The Reality of Travel Expenses
As much as traveling brings joy and unforgettable memories, it doesn’t pay the bills. Despite facing this reality, I choose to keep moving forward, showing my followers that I am okay and happy. However, for the past few weeks, I’ve been feeling the weight of our bills, prompting me to make action plans.
Creating a Financial Action Plan
First, I made an excel worksheet and listed all our current bills and payments, including food, life insurance, and car insurance. As I analyzed our expenses, I realized we haven’t allocated budgets for clothing, house repairs, travel, hobbies, medicine, and more. While these expenses are necessary, some can still be reduced.
Tackling Specific Expenses
House Rates: With rates on the rise, finding ways to earn more income, like taking in a homestay student, might be a good idea.
Car Crash Liability: We learned a costly lesson and now understand the importance of comprehensive car insurance.
Mobile Phone Bills: To reduce costs, I’ll explore ways to earn extra income and pay our phone bills faster.
Electricity and Water: Implementing power-saving steps and limiting usage can help cut expenses.
Internet: I’ll scout for the lowest internet cost to find potential savings.
Food: Creating a meal plan, searching for deals, and making everything from scratch can reduce costs.
Car Petrol: I’ll explore fuel savings deals to trim expenses.
Insurance: I’ll compare insurance companies to find more affordable options.
Netflix: While we can’t remove this expense, we’ll be mindful of its impact on our electricity bill.
Unleashing Entrepreneurial Spirit
To improve our financial situation, I plan to explore various income-generating opportunities. From finding a full-time job to monetizing my blog and websites, offering services like food photography and recipe video creation, and conducting online classes and e-books, I’ll embrace every opportunity.
Facing Challenges and Setting Goals
I acknowledge the challenges of balancing expenses and earning income, but I’m determined to make positive changes. I’ll document my budgeting journey and share my successes and failures with you.
A Light at the End of the Tunnel
By sticking to a budget and being mindful of our spending, we can save a significant amount over time. With dedication, we’ll move closer to our goal of a Philippine holiday in 2019.
Supporting MotherBee’s Journey
If you wish to support my passion for creating content and need assistance with expenses, consider subscribing to my YouTube channel, watching my videos, and clicking on advertisements. You can also support me by purchasing my books and other items.
Let’s embark on this budgeting journey together, and remember, there is a light at the end of the tunnel. Until our next update!
Thank you for being part of this incredible journey. Stay tuned for more updates and exciting content from MotherBee!
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