Financial Blog

Being a Super Mom takes more than just whipping the perfect brew or making healthy baon for the kids. Beyond kitchen and other household duties, the responsibility of managing expenses is often entrusted to moms—and for good reason. No one handles money the way they do, or so we were told.

Read more: 7 Habits that are Costing You (And How Much You can Potentially Save)

When we asked modern Filipino moms about their pro tips on smart budgeting, we proved that moms are—most of the time at least—financial gurus in their own right. Here are a few simple tips on budgeting from modern Filipina moms:

Your husband is your partner in crime on money matters. Have him involved in budget planning and never keep the burden to yourself. Remember, it takes two to tango, and that adage applies beyond the dance floor.

“Open communication with your spouse or partner is important in budgeting,” says Louise Antonette Fandino-Santos of MommyPracticality.com. Louise and her husband begin the year by discussing their finances and adjusting for seasons with higher expenses than usual like enrollment season and birthday months.

For her part, mother-of-four Tina Rodriguez of TrulyRichAndBlessed.com believes in the same approach but adds that a categorical approach is the most practical. “As a couple, you should know what your expenses are–categorized as needs and wants. Wants can be delayed. Needs should not be sacrificed to buy wants. All of these are discussed with your family goals and values as your guide.”

Set your bill payment schedule twice a month, including groceries and other household expenses. It’s a tried-and-tested formula to be financially efficient in the long run.

And yes, attention to detail is important but Super Mom Louise makes it sound eas: “For example, telephone/internet bill is paid [in the] first half of the month, while water and electricity [are settled] during the second half of the month. Groceries are done every two weeks.” She adds that one should always be mindful of household consumption before making purchases to avoid wastage or surplus.

Are you too busy to keep track of all your bills? With Bills Assist, you can consolidate all your utility bills and remember just one due date. You can even earn rewards points!

Emergencies hit without warning so preparing for one is non-negotiable. But how do you build an emergency fund? And how much is enough?

“We do it little by little. We set aside just a small amount every month and deposit it into that account [emergency fund],” shares Ginger Arboleda of MommyGinger.com

Investment banker-turned-writer-and-speaker Rose Fres Fausto of Fqmom.com suggests a minimum amount of emergency fund one must maintain. “For employees who receive regular income, this can be six months’ worth of expenses. For business people whose income is not earned in regular amounts and intervals, one year’s worth of expenses should be enough.”

Rose advises employees to enroll their dependents in hospitalization insurance often offered as part of company benefits. On the other hand, budding entrepreneurs can avail packages by insurance companies to cover emergency expenses.

Rose is a speaker at Security Bank’s Smart Saver Kiddie Camp, a three-hour financial literacy program specifically designed to teach kids 7 years old and above the value of saving and investing.

A plethora of apps today are designed to help people manage their household budgets. Make them work for you. If you’re not tech-savvy then don’t worry. Most of these apps are very intuitive and are easy to use. Using these powerful tools not only saves you time and effort, but also makes you look cooler with your kids.

Mother of two, Marilen Faustino-Montenegro of Marilenstyles.com, suggests apps like Spending, Home Budget Manager, and Mint Personal Finance in budgeting her family’s expenses.

Like we always say, it’s better to be safe than sorry when it comes to your finances. Both Marilen and Kimberley Reyes of MomOnDuty.com can attest to this.

“We follow an excel sheet of monthly budget and expenses, formulated in such a way where our income and expenses are templated,” shares Marilen. Kimberley adds, “I have the envelope system in place so we can set aside money for our expenses a month ahead.”

So, how do you do this? Create a monthly budget spreadsheet in Microsoft Excel to monitor spending. Choose from various templates available or create one that suits your preference. To allow remote access for you and your husband, upload the monthly spreadsheets on the cloud.

“Look for more affordable options when it comes to purchases, without sacrificing quality,” Tina suggests.

Or why not just do it yourself? Many moms resort to DIY alternatives to save on items that are easy to handcraft such as coasters, carry-all tote bags, spice display jars, and even kiddie play items. Making these can also be a fun bonding activity for your family.

Now you’re one step close to becoming a pro-budgeting Filipina mom!A mother can never fail in budgeting because the success of the family’s financial goals is in their hands. Try out these budgeting tips and take charge of your household expenses.