Fixing My Family’s Finance (Family Finances Workshop)

I was telling a friend recently that having a vision board really helps a lot in achieving my financial goals. I have this vision board (more like a vision paper, since it’s just in one sheet of bond paper) that I taped to the wall in front of my bed. I did this so that when, I’m contemplating during the evenings, I can stare at it and become more motivated to save up so that I have enough to invest.

Recently, we have been reviewing our family’s finances and I think we’re doing pretty okay in that department (not excelling, but at least we’re okay). What we really want to eliminate are debts. We have a lot of credit card debts and of course, we have to pay off our mortgage. I say that we are pretty “okay” even with all of these debts, since we have a plan on how we could pay it off.

How about you? Do you have a plan for your our finances? How about your family’s finances? If you are still uncertain, join us for the Ready to be be Rich Family Finances Workshop. This will be on September 20, 2014 from 10am to 4pm. It will be at the vOffice Philippines Branch – 10th floor Fort Legend Tower in Bonifacio Global City!

Family Finances Workshop

Family Finances Workshop

This workshop is for:
• Couples who are finding it hard to budget their income to sustain the needs of their family.
• Breadwinners who are taking care of their parents, or involved in elder care at home.
• Single parents who are finding it hard to achieve work-life balance.
• Newlyweds who would like to know how to become financially independent from their parents.
• People who have relatives who depend on them financially.

Expect to get practical advice and real-life exercises that will teach you exactly how to achieve financial security for your family. After the workshop, you are expected to go home with a list of action items for your household and a concrete work plan that you can immediately apply.

Here are some questions that you’ll be able to answer after the workshop:
1. How can I save money if my income is just enough to support my family?
2. How do I teach my child to be financially smart?
3. How should I handle family members and relatives who constantly borrow money?
4. How do I manage my finances so it can support the medical expenses of my aging parents?
5. How can I invest if I’m too busy working and taking care of my children?
6. How do I secure the educational needs of my child?
7. How can I afford my dream house?
8. How should I prepare for retirement, so I won’t be dependent on my children when I grow old?

Instructor:

Fitz Gerard Villafuerte, RFP is a civil engineer who decided to quit the corporate world in 2003 to pursue entrepreneurship. In 2014, he became a registered financial planner.

His blog, entitled, Ready To Be Rich, has already received several recognitions including the Best Business and Finance Blog at the Philippine Blog Awards for two years in a row. Moreover, an international finance publication, Wise Bread, has likewise ranked his website as among the Top 100 Personal Finance blogs in the world. Fitz has also been recognized by Moneysense Magazine as among the top 12 most influential people in Personal Finance in the Philippines.

To sign up, please visit this link: FAMILY FINANCES WORKSHOP

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Ready to Be Rich: Family Finances Workshop

Hi Everyone! Is anyone here already planning their family finances for next year. Ej and I are a bit delayed in planning for next year. Normally, by December, we already have a concrete plan for the following year. I’m not worried though since I always believed that when you do something you love and you believe in, money will follow.

This year, I have been taking bold steps in entering into different businesses. OF course, Manila Workshops, my main business and my main love, will still be bringing you quality workshops for next year. We, my husband and I, have already figured out though what our magic number is, so that we can retire at 45-50 years old. All we have to do is stick to our plan and I think everything will be okay.

For those couples, breadwinners, lolos and lolas, moms and dads, children, etc. who are still figuring things out in terms of managing their family finances and household budget and investments, the first Ready to Be Rich Workshop for next year is about Family Finances. It will be on January 11, 2014 and will be held at Insular Life Multi-Purpose Hall at the 12th Floor Insular Life Building in Makati City (Ayala Avenue corner Paseo De Roxas). This will be from 10AM to 4PM and it will be a very hands-on workshop.

Fam Fin - Jan 11

To be conducted by Fitz Villafuerte of Ready To Be Rich (FitzVillafuerte.com)
– Best Business Blog from the Philippine Blog Awards
– One of the Philippine’s most influential people in Personal Finance (Moneysense Magazine)

The learning investment is very affordable at:
Regular Rate: Php 1,500 per participant
Early Bird Rate (register & pay before January 1, 2014): Php 1,000 per participant
Couple Rate (bring along your spouse or partner): Php 2,000 per couple

To sign up, all you have to do is fill out the form below and then you will receive an email on how payments can be made. You can pay via BPI, UnionBank or Paypal.

 

Hope to see you there! 🙂

*The Family Finances Workshop is brought to you by Manila Workshops and the Ready To Be Rich Workshop Series

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Preparing your Finances for Pregnancy and Your Baby

Mommy Ginger was a guest speaker at the Setting up Mommy’s FB (Finances for Baby) Event at Mothercare Active Fun. I was invited by Insular Life to speak. It was actually my first time to have a talk which was not either about mompreneurship, business or digital marketing. Normally, I would get invited to speak for those topics. I was really excited, because I really wanted to talk about this topic.

Setting up Mommy's FB

Setting up Mommy's FB (Finances for Baby)

Left to Right: Ms. Phoebe of Stemcord, Mommy Ginger from MommyGinger.com, Chay from Insular, Mariel from Mothercare and Anna from Insular

I know that one of the things that hinders a couple from having a baby is their finances. They always think that their money is not enough. A lot of my friends, who have stable jobs and great marriages, don’t have a child yet because a lot of them are still ‘saving up’ for a kid. In my blog, I get a lot of messages through my Mommy Ginger Facebook Page on how much do you actually need for the following:

1. Preparing for conception: How much would doctor’s fees, shots and vaccines (HPV, Flu shots, etc.), medicines cost for if you and your husband are still preparing for a child?

2. How much would you need to set aside for shopping for your baby’s things?

3. How much would you need for Ultrasounds, OB check-ups, etc.

4. How much would you need for labor and delivery

5. How much would you need for baptism, the child’s first birthday party, etc.?

6. How much would you need for education?

2013-10-26 16.36.27

2013-10-26 16.29.24

Mommy Ginger speaking at the Setting up Mommy’s Finances for Baby

2013-10-26 16.24.53

Chay from Insular Life discussing their product called Gift of Dreams

For those who want a copy of my presentation, all you need to do is like my page on Facebook (https://www.facebook.com/mommyginger) and send me a message there with your email address! 🙂 I will definitely get back to you and email you back the copy of the presentation.

2013-10-26 16.50.02-2

Baby Zeeka was playing while Mommy was Speaking 🙂 hehe!

For those who want to learn more about finances, my friend, Fitz Villafuerte is having a Family Finances workshop on Nov. 9, 2013. I would love to meet all of you there. You can register HERE: http://manilaworkshops.com/2013/10/family-finances-oct-2013.html

The organizers will also give Php 200 off from the rates if you place MOMMYGINGER in the Blogger Referral Code field in the form.

Thank you to all those who attended the talk. I hope that you learned a lot from me. Thank you very much, Insular Life and Mothercare Philippines! ‘Til the next event 🙂

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Family Finances: Learn How to Manage and Balance your Family’s Budget Today!

I was invited to give a talk about preparing for pregnancy related expenses and baby related expenses by Insular Life of the Philippines. I’m not sure if the talk was already announced, but it’s a free talk. I’ll let you know when it will be and i’ll definitely share it with you here on my blog. These are for couples who are expecting a baby and are wondering how much will it truly cost to prepare and have a baby.

But preparing for a baby and having one is just a part of the whole household budget. It takes great practice, ‘couple’ communication and teamwork and prayers to get through having enough money for all the family’s expenses. But it, of course, takes a lot of knowledge in that aspect of handling money, budgeting and investing to be able to really get by (okay, fine… prayers can only take you so far – I admit!).

One person, who I really consider as a mentor in this field, is Fitz Villafuerte. By just listening to all of his talks, I have learned and have applied a lot of great stuff in handling our family finances. That’s why after my talk on October 26, I highly recommend you to attend this rerun of the FAMILY FINANCES WORKSHOP of Fitz Villafuerte.

Fitz Gerard Villafuerte is a civil engineer who decided to quit the corporate world in 2003 to pursue entrepreneurship.

His blog, entitled, Ready To Be Rich, has already received several recognitions including the Best Business and Finance Blog at the Philippine Blog Awards for two years in a row. Moreover, an international finance publication, Wise Bread, has likewise ranked his website as among the Top 100 Personal Finance blogs in the world. Fitz has also been recognized by Moneysense Magazine as among the top 12 most influential people in Personal Finance in the Philippines.

Family Finances

This workshop is for:
• Couples who are finding it hard to budget their income to sustain the needs of their family.
• Breadwinners who are taking care of their parents, or involved in elder care at home.
• Single parents who are finding it hard to achieve work-life balance.
• Newlyweds who would like to know how to become financially independent from their parents.
• People who have relatives who depend on them financially.

Expect to get practical advice and real-life exercises that will teach you exactly how to achieve financial security for your family. After the workshop, you are expected to go home with a list of action items for your household and a concrete work plan that you can immediately apply.

Here are some questions that you’ll be able to answer after the workshop:
1. How can I save money if my income is just enough to support my family?
2. How do I teach my child to be financially smart?
3. How should I handle family members and relatives who constantly borrow money?
4. How do I manage my finances so it can support the medical expenses of my aging parents?
5. How can I invest if I’m too busy working and taking care of my children?
6. How do I secure the educational needs of my child?
7. How can I afford my dream house?
8. How should I prepare for retirement, so I won’t be dependent on my children when I grow old?

Date: Saturday, November 9, 2013
Time: 10:00 AM – 4:00 PM
Venue: Studio SnR, 3rd Floor, Millenium Place, Meralco Avenue, Ortigas Center, Pasig City, Philippines 1605
*Please bring a calculator

For a Php 200 discount, don’t forget to use MOMMYGINGER for the Blogger Referral code:

Sign up now using this form:

Take advantage of our early bird rate of Php 1,700 by registering and paying on or before November 2, 2013 or you can bring along your partner and avail of the couple rate of Php 3,000 per couple.

Sign up now!

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How do you Manage your Household Budget?

For newly wed couples, how to manage the household budget may be one of the most complicated things that you could ever talk about as a couple. I know a lot of couples who fight and argue about financial concerns and decisions. How do husbands and wives of several years do it? Is there a basic framework that we could follow, so that all couples could just follow it and not have to argue?

What I did was I asked typical housewives who have survived years of marriage without constantly arguing about money with their husband on how they do it in their own homes.

My husband and I have decided that I will be the one who’ll manage the budgeting and disbursements (buying stuff for the house, bills payments etc.) although I let him know how much goes into what type of expenses we need to pay. I keep a “journal” of our cashflow – salary vs. expenses. When payday comes, I only withdraw the needed money for the period, ask the bank teller to give me an exact breakdown of the bills and coins I need so that I can put the exact amount allotted for each type of expense on individual envelopes (for ex. grocery), this helps me know that only such amount is available for this particular expense to avoid overspending. This way, I am able to organize our finances and keep expenses within the budget. – Lorellie

It used to be my husband who was in charge of budgeting and disbursements, but we both agreed last year that I be in charge. We have a monthly budget and every payday he gives me his share for the expenses, then I divide that plus my share and put them into envelopes that are labelled for different expenses. We also put aside 10% (as much as possible) for tithes and 10-20% to savings and investments (again, as much as possible). Before I gave birth, I was in charge of paying the bills. But now that we have a little baby again, he’s in charge for now. Whatever bills can be paid online, he pays online. We also try to buy new stocks through our COL Financial account every month, as much as possible. Whatever I earn from my blog usually goes to the homeschooling needs of our kids. – Tina of www.trulyrichmom.com

Since I’m a military wife, I’m geographically a single parent. I do everything, I have everything. He has allowance though. And yes, we are very typical — what’s his is mine and what’s mine is mine alone. When I get to have “blogging gigs”, I share the info with him. Haha! Seriously – Denise of www.bebengisms.com

I’m the one in charge of budgeting but I inform my husband of how the money is being spent. My husband gives me his salary in full, and he receives a bi-monthly allowance for his personal expenses, like for a boys’ night out. I have several mini pockets (those plastic card holders) with labels like PHONE, CABLE, ELECTRICITY, KID’S ALLOWANCE, etc., and the moment I receive our respective salaries, the budgeted amount will be put in those pockets. We practice the formula INCOME less SAVINGS equals EXPENSE. So every month, there is a set amount that goes to our savings, and to a special account for emergencies. Whatever can be saved from the budgeted expense then goes to special expenses like gadgets. We use a credit car for big ticket spending, like appliances, to take advantage of zero interest installments, but we always pay credit card dues in full and on time to avoid finance charges. I also make sure that I use my credit card so often to earn me necessary points to pay off the annual fee. In my 11 years of being a cardholder, not once have I paid the annual fee. I also have a budget planner in Excel which I use when I need to make adjustments to our budget, like when we are planning to have a vacation and I need to see where I can cut some expenses to allow me to save for that vacation. The budget planner is set to automatically compute, so it makes my life a lot easier. That budget planner, by the way, is downloadable from my site, so if you want to download it, just visit my page and get the URL from there. – Marge of TheHappyWAHM.com

I do the budgeting in the family. I keep mailing envelopes and label each with tithes and offerings, electricity, water, internet, forced savings, SSS and Philhealth. The rest goes to everything else. When the next paycheck comes, whatever amount that is left unused goes to savings or leisure. We lead simple lives. We do not have utang (debts) if we can help it. God’s portion is a priority, then the bills, then the basic needs. Leisure is still there but it’s of a lower priority. We agree on a fixed percentage for forced savings. We also make it a point to save for a vacation to our parents, for birthday gifts to parents and for appliances and gadgets. – Michelle of behealthyandwell.com

This is one aspect of my life that I would really like to improve on. 1. I am the solo breadwinner of the household. Hubby worked overseas last year, came home due to work issues, and still looking for work overseas again. But that’s another story, so long story short, I bring home the bacon. 2. I do the budgeting since I am the one earning. However, hubby gets a minimal allowance from me for his personal expenses, and he budgets the “food allowance” each week. I give him the allotted amount and he’s in charge. 3. I pay the bills. It’s tough being that I alone have to shoulder all the expenses, and we have kids as well. But God is good, so far, although we still have debts to pay off, we are doing okay. Like the other mommies here, I have envelopes for everything. Makes everything organized. – Sammy

Me and hubby own our salaries. Although most of the house expense are paid by him, as well as my credit card bills. My salary, on the other hand, is for my allowance, the amortization payment of our house (monthly), insurance premiums (quarterly) and savings. On investments, my profile has always been “conservative”. I availed of the Balance Fund offering of the banks. I find it quite hard to invest on equities or stocks alone like what Citiseconline offers. So, my best advice would be to assess first your risk appetite before investing your excess money. – Melissa

I have been using the “envelope system” for 23 yrs now & have been advocating it to friends. Zero debt now & investing on something that yields me 18%/annum. Whatever extra I earn online, I buy more craft supplies, or enroll in cooking, craft classes or socual media, entrepreneurship workshops. – Marryl of marrylallwrite.com

Our budgeting style is almost exactly the same as TheHappy Wahm’s! Except that my husband and I divide expenses into responsibilities: His earnings go towards the rent, car payment, utilities, gas, savings; mine go towards food, the family’s “fun money” (i.e. vacation, entertainment fund). I also manage our savings, insurance and investment portfolios. As for investments, we a mix of equity mutual funds. We’ve only started recently on stocks. – Martine of DaintyMom.com

I think there is no hard-and-fast rule in budgeting. It is as varied as the uniqueness of individuals. We used to follow the Biblical way where the wife/I handle our monies until it evolved into a more liberal approach. We try to work on the policy of honesty. We inform each other of our bi-monthly earnings then share in paying the bills, savings, tithes and investments – Jasmine

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Looking at the responses from these mommies, I think the envelope system works. I have never tried that before, but it looks like it’s very effective. Although, I agree with Jasmine that there is no hard-and-fast rule in budgeting your household expenses. It really is trial-and-error until you both get it right.

Ej and I have been married for three years and we’re happy to say that we have not ‘ever’ (knock on wood) argued about money. Ej handles our finances, since he earns almost all of it. What I earn from the business, from my blogging gigs and freelance writing engagements, I keep as savings and investments. We tried it the other way around, with me handling the finances, and we think it’s more effective if he does the ‘handling’.

How about you? How do you manage your household finances? What works for you? I’d love to hear more about it.

Love lots,

Mommy Ginger

Mommy Ginger

 

 

 

 

P.S.

For those who would love to learn about handling the household budget, join us at the Ready to Be Rich: Family Finances Workshop to be conducted by Mr. Fitz Villafuerte. There will be actual exercises that you will have to do during the workshop to get you started. Sign up here!

Family Finances

Family Finances

About Fitz Villafuerte:
His blog, entitled, Ready To Be Rich, has already received several recognitions including the Best Business and Finance Blog at the Philippine Blog Awards for two years in a row. Moreover, an international finance publication, Wise Bread, has likewise ranked his website as among the Top 100 Personal Finance blogs in the world. Fitz has also been recognized by Moneysense Magazine as among the top 12 most influential people in Personal Finance in the Philippines.

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Mid Year Goal Checking: Family Finances

I am inspired. Half of the year has gone by and I we are somehow on the right track of where we want to be financially. I checked our family finances and we are right on track. If we want to achieve our goal by the end of the year though, we need to keep pushing and seizing every opportunity.

I have this excel template where I keep track of all my activities as a Mompreneur. One tab shows the earnings that I have from workshops. The next tab shows the earnings from blogging and the last tab shows my earnings from the other activities that I do. Each tab has a specific financial goal for this year. Every so often, I transfer funds to specific investments that we have. I learned this from attending Fitz Villafuerte’s Investing for Beginners class.

In the class, he taught us how to identify specific investment goals and check for the most apt investment vehicle to use for each.

I’m excited to share with you the next workshop that he will be conducting. It is entitled Family Finances.

Ready to Be Rich: Family Finances Workshop

Ready to Be Rich: Family Finances Workshop

If you want to get hold of your family’s finances, you might be interested to attend this workshop set on Saturday, July 20, 2013 from 10:00 AM – 4:00 PM at Studio SnR, 3rd Floor, Millenium Place, Meralco Avenue, Ortigas Center, Pasig City.

This will be a good way to review your finances for this year and get motivated to act on it! The workshop included hands-on activities that will help you start planning already.

For more information, please visit http://manilaworkshops.com/2013/06/family-finances.html

Hope this helps,

Mommy Ginger

Mommy Ginger

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