Now that we are on quarantine for over a month, we are already stressed out with our household finance since our income and/or business are on stake. This is why it is very important to know how to balance our household finance and be ready for whatever will happen after April 30th since we don’t know if the enhanced community will be extended or not.
So what can we do for now?
Do House Inventory Every Week
It’s very important for you to be particular in your grocery list since we don’t want to overdo or under-do our shopping. We also don’t want to go beyond our budget so leave no room for mistakes. Check your pantry before you go into grocery shopping because we don’t want to buy double items and we don’t want to forget the most important ones.
Double Check all unpaid expenses
Last March before the start of the enhanced community quarantine, merchants such as Meralco, Maynilad and PLDT gave us the privilege to extend the due dates of our utility bills and some banks also did the same for our credit cards, however, the extensions are just until April. With this, it’s fair enough to set expectations into a higher expense this coming May so make sure you have got all your unpaid debts on record to set your budget to settle all unpaid debts
Wants vs Needs
This has been an all-time financial tip but this actually works. It’s very essential to cover your family’s needs instead of focusing on wants. Just because your kid wants chocolate doesn’t mean that you’re going to give it to them, right? Considering the financial crisis that the family has been facing. The most important thing is nutrition- eating healthy meals and make our immune system stronger than ever.