Financial planning during this economic crisis can be very stressful and draining. I have a limited income coming from a modest allowance that my retired husband gives me monthly. This is supported by a meager amount that I receive from Social Security Disability benefit. I have a mantra to stay positive on my financial outlook which gives me psychological and spiritual strength, and this is..”In God, I Trust”. Yes, and this is my adherence to the US national motto that can be found on all currency of the United States of America, In God We Trust.
By faith, I never feel miserable even if my resources are just enough for survival. I know that there is a Supreme Being up there who sees that my needs and that of my family are met. I wake up in the morning with prayers for myself and my family for healing in all aspects such as physical, emotional, spiritual and financial. Afterwards, I feel contentment and security that God will provide.
In this regard, I would like to share some ideas that I use in consonance with prayers that has kept me financially fit through the years:
1. Plan a Budget- it is important to know how I will balance my income and my expenses. It is a matter of plus and minus using a paper and pen to list down everything I need at home or for personal use.
2. Stay physically fit and healthy- in order to avoid frequent doctor’s visits and co pays on medications, I see to it that I take my maintenance medicines religiously. I eat a well balanced diet and exercise by walking at least one hour a day, about three times a week.
3.Pay Credit Cards monthly- I pay at least the minimum amount to my credit cards in order to preserve my good credit history. I also decide which credit card(s) will be used and have one that is reserved for cases of emergency. The credit cards serve as a back-up or cushion in this hard times but I don’t abuse usage.
4. Look out for available options- I utilize my laptop to search for free entertainment like games, music and social networking like Facebook that keep me busy aside from household chores. There are some fun things to do without spending too much like yard sales, garage sales, Goodwill bargains, and Off Season clearances from department stores.
There is also a high-tech way of bonding with my daughters without spending for airfares because they live in Hawaii and the Philippines respectively. Thank you to SKYPE for online communication. I also use my cellphone to call or text my son who lives here in the USA and that helps me bond with them minus the financial concerns.
5. Use online banking- I check my daily bank balances to know where I am coming from in terms of expenditures. I also pay bills online. Saves me time and effort and stamps. I keep track of all my debits and credits which helps me to decipher if I got enough funds for the next bill or purchase.
All of the above suggestions prove to be effective for me and I am sure some women who are stay at home moms whether actively working or retired can relate to it. Hopefully to stay fit financially.