Melvyn Tan
October 7, 2013 — By tanmelvyn@gmail.com

3 Things You Must Do When Managing Household Expenditures

[blockquote source=”Proverbs 24:27 (NIV)“]Do your planning and prepare your fields before building your house.[/blockquote] You want to provide the best for your children. You may have not the exposure nor the luxury to have certain opportunities. But now you want to ensure that you do not deny your child of such matters. You push yourself […]

[blockquote source=”Proverbs 24:27 (NIV)“]Do your planning and prepare your fields before building your house.[/blockquote]

You want to provide the best for your children. You may have not the exposure nor the luxury to have certain opportunities. But now you want to ensure that you do not deny your child of such matters.

You push yourself and sometimes even go into debt just to make it happen. You think, it’s okay, I want the best for my child.

But is it really?

I like to think that way too. To give them the best so that they will have the exposure and the necessary opportunities. Else they might lose out. Fall behind.

I am going through the same issue at this point in time. Will I have enough? Can I sustain the kind of lifestyle?

What am I to do? Here’s what we did, we identify the following when managing our household expenditures:

  • Fixed expenses: child care services fees, enrichment programs, insurance
  • Variable expenses: utilities bills, cellphone bills
  • One-off expenses: travel, medical fees, new clothes, new shoes

Once you have done that, the next thing to do is identify which of these expenses can be eliminated without compromising your child’s development. For example, after two term of ball-game enrichment, we are considering taking him off and enrolling him for a music enrichment.

When we finally gotten down to doing the sums, it helps but give us a sense of ease, as well as enable us to do the relevant planning ahead.

Father I thank You for all the blessings and love You have given us and that You will continue to give us. Father I pray that as we build this house that You will continue to guide us. In Jesus name, Amen.