Why we should track our family’s expenses?

Back in 2011, my husband and I were engaged to be married, we heard from a financial seminar to keep a shoe box and put all our receipts there to track our monthly expenses.

we tracked our expenses for months

After attending that workshop, I immediately bought a pen and paper to track our expenses (wedding preparation) until I was able to form this new habit.

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Financial Freedom Journey: Know Where You Are

As promised, after being invited on “Money Wise”, a financial literacy TV Show hosted by Mr. Chinkee Tan and Tin Tin Bersola-Babao, we promised you friends, that we will share our journey towards financial freedom.

They invited us to represent most Filipino Families, why most of us cannot save? They mentored us on how we can do better on our financial life and even on our business.

This year, we wanted to build our emergency fund again- we lost almost everything when we transitioned to one income earner family late 2013 as I’ve shared last year (here) and we’ve been praying for an effective system that will work for inconsistent income earners like us, start paying-off our home mortgage loan and be a channel of God’s blessings– these are our top financial goals for this year.

To summarize, it is one of our faith goals this year to be a better manager of God’s entrusted resources to us, being mentored by Mr. Chinkee Tan & Ms.Tin-Tin is one of God’s answer to our prayer and faith goal.

 

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My husband and I realized that the first step in walking in financial freedom is to know where you are.

Like in Waze, it won’t tell you where you want to go. Instead, it asks us where we will be coming from and our destination before it can show us the directions and paths we need to take.

Same goes with our financial life, first,we need to know where we are right now.

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