Taking care of a family is hard enough, but managing the finances can seem next to impossible. Not only that you want to provide everything you can, but you also want to do it all despite little income to run the home.
The issue of finance is something every woman needs to take very seriously. It does not matter whether you are single, married, divorced or widowed but the burden becomes more especially for the married. Every woman needs to have a thorough understanding of her financial in-flow and out-flow.
Mrs Sadiya Umoru, a business woman said, it is not an easy thing to manage the home even if there is abundant of money not to talk of battling with economic situation.
She said, she has to support the husband by managing whatever he gives her and still make sure she buy the necessary things for the house especially what is most pressing need per time.
“The man may think he has given enough money but no amount of money is too much for home keeping because as you go to the market even things you did not budget for will stair you in the face but one need discipline to prioritise and get the necessary things.”
She said it is the responsibility of the woman to manage the home within what is given her. “Most women also add to whatever is given them from their personal savings so as to cover lapses.”
A full time house wife, Clara Edeh said, she has never work in any office since she got married because the husband wants her to take care of the home front but managing the home budget has never been an issue.
“I cut down expenses and make use of another alternative if I discovered that what I need to buy is too expensive. I also go to markets where I can buy food stuffs in whole sale rather than buying in retailing bacause that is more economical.”
She said as women, we are managers and we should know how to manage and support our husband and also avoid buying things that may not be of immediate gain for the family.
A teacher, Mrs. Janet Sunday also added that some wome run into troublw with managing the finance of the home when they begin to use the money use for home keeping for “aso ebi” (uniform for occasion) because they don’t want to be left out.
She advised that women do not need to buy such uniform just to fill belong and expose their homes to ridcule and suffering. “Some even take such material on credit and the start paying gradually but it is not madatory to buy such.”
Mrs Sunday also said that she has never been under pressure to buy anything that is not part of what she has budgeted for, for the week or month adding that taking care of her home with what is provided by the husband with whatever she has to add is her major priority.
An online platform, modernmom.com suggests 10 ways to create and manage a budget that you can stick to that provides your family with what they need.
– Track Your Spending Habits: This will allow you to see trends and note when you are spending a little more in a category than you would ideally like.
– Set a Realistic Budget: Budgets can be tricky, so set one that you can be comfortable with. Take your new knowledge from tracking your spending habits and map out expense categories such as rent, utilities, school expenses for the children, and others.
– Think of the Long Term, as Well as the Short: Making a week-to-week or month-to-month planning is necessary.
– Get the Whole Family on Board: Being the enforcer of a budget is a tough job, especially when it comes spending extra money on special outing. Involve the children so that they know when to ask for outing and other things since everything come with spending a little here and there. It can be easy to just run through a fast food restaurant when you’re tired and the children are hungry. Instead, though, give them the option to help choose the menu for dinners.
– Schedule Bill-Paying Days: Setting aside a time when you can really focus on getting things paid and taking care of anything unusual with a vendor is incredibly important.
– Spend Time Reevaluating Your Budget: Budgets change as the needs of your family change. Be prepared to make adjustments to your budget after several months of giving it a go.
– Look for Ways to Make a Little Extra Cash: Put a few more money in your pocket by finding innovative ways to make money on the side. Even full time house wife engage in one business or the other at the comfort of their home just to make extra money and contribute their quoita to the family.
– Watch Credit Card Spending. Credit cards have their benefits, but a lot of people get themselves into trouble when they dont have control over how to use the card.
– Use Lists When Shopping: One of the best ways to stick to a budget is through the use of lists. Before leaving your house, make a list of what you need to buy from the market or from any store. This will guide you through and help you to maintain focus and make you purchase those items on the list.
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