Family budget. 1. how much monthly? 2. how much do you spend for groceries, kids stuff, market? 3. any money saving tips

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My partner sends us $300 monthly and it's more than enough for our needs. We don't buy milk since I breastfeed my baby and I don't buy diapers since we use cloth diapers. I only allot around 1,000 for our grocery needs like soap, shampoo, detergent, fabric softener and a few food to snack on. For my kid's stuff, like his toys, I buy only what he will really like. I don't buy often because his toys only pile up. I am yet to add budget for his food when he starts solids which will probably just be around less than 1,000 pesos. You can check Peso Sense on Facebook. They have these inspiring posts about saving up, frugality and being money-wise. Check these tips on how to be financially literate, as posted by them.

Magbasa pa
8y ago

thanks for your reply. lucky you! you dont buy milk. i will definitely check the link

According to Bo Sanchez, around 10-20 percent of your salary should go to your savings/emergency fund. Meaning, the savings should come first. That's the ideal set-up. The rest can be your expenses. Around 40% goes to my child, 30% for the grocery and 10% for the miscellaneous. We try our very best to follow this though admittedly it's challenging. But right now the most important thing is for you to have savings.

Magbasa pa