My Influence in Budgeting...

 How do I budget our money?


Oh~~~ A bit embarrassing but this is how we truly budget our money.
I use envelope and zippered pouch. For us, this is convenient and organize.
Utang (Debt) free! :-)

 I've learned this from the Relief Society Meeting when I was in Taiwan. I attended the meeting and the Sister taught us how to budget money using the 
ENVELOPE SYSTEM by DAVE RAMSEY.

Tracking Down Daily Expenses
One problem I had is how much money I should spend in food and grocery, for transportation, house and other bills and on other items even tithing. I should be accurate in paying my tithing honestly.

But I found a better way. My brother has taught me how to know how much I spent. 
I've realized he also is working out for his own budgeting. 

We used our own cellphones and download a software called LIGHTWALLET. Here you can input all the expenses you made even to the smallest amount and categorize expenses accordingly. At the end of the month, it will give you a summary total of all the expenses you made according to the categories. You can download software from here. Make sure you cellphone unit is compatible with this software. Actually, if you are using android phone, you can download more updated software on budgeting like EEBA.

I am so happy that my cellphone became so useful to me not only for messaging and for calls but also for tracking down my expenses.


You can also have write all your daily expenses into a notepad and total the expenses at the end of the month.


Tip: Receipts should be kept to check price difference and for recording.

Now that we found out how much we spent, it's time to budget! 


Categorize Your Expenses
Group the list of expenses you have. 
Start by grouping into general categories like House, Food & Groceries, Transportation & Gasoline, Saving and even Tithing.

Choose your envelopes or pouch and label.
I choose pouch for my budgeting because I think is it sturdy and can keep coins.  
Label each of them with the categories you defined.

Allocate budget into the envelopes or pouch.
Create a budget. Decide how much you will allocate your income into the envelopes. It does not mean that the result of your daily expenses will have the same amount this time. By the end of the month, you can evaluate which item you spend money too much. Some times it happens. into other necessary things.

This is the advantage of using this kind of system because you will know if your in-control or out-of-control of your money. You will be more discipline and develop a good influence in your budget. This is also great way to teach children to learn family budget.

Pay Tithing First
There are so many blessings I receive on paying my tithing honestly. 
And paying it really brings forth blessings. It is countless!



I made a separate post about tithing. You can check it from here.

"Successful family finances begin with the payment of an honest tithe and the giving of a generous fast offering. The Lord has promised to open the windows of heaven and pour out great blessings upon those who pay tithes and offerings faithfully 

Don't Over Spend
If you over spend, you will be tempted to get cash from other envelope and the money intended for such expenses will suffer and you will suffer too. This is what I like about envelope system because you are discipline to spend within the budget. The appetite to buy our wants will lessen and we will be focus on the things we really need. Don't entertain pressure from friends that you need to buy if it is not included in your plan. And don't tell your self you are less popular or less worth if you don't buy expensive ones.

 If I'm going to grocery, I take some money enough for my list from the envelope labeled grocery. I don't need to bring the envelope with me because it is a hustle for me. Outside home is always in a rush.

“We should regularly review our family income, savings, and spending plan in family council meetings. This will teach our children to recognize the difference between wants and needs and to plan ahead for meaningful use of family resources.”   
Elder Robert B. Hales


Money Left = Savings
If I don't over spend the allotted money, the remaining is to put it into savings! I feel happy every time I have money left. It is small amount but as weeks by and months, 
I can see I have money to deposit. It is a blessing indeed.
Or if you have debt the money left could be use to pay your debt. You can add one more envelope to collect your cash for payment of debt. You will be blessed as well!

I could always remember the counsel given by the church on finances.

“We encourage you wherever you may live in the world to prepare for adversity by looking to the condition of your finances. We urge you to be modest in your expenditures; discipline yourselves in your purchases to avoid debt. … If you have paid your debts and have a financial reserve, even though it be small, you and your family will feel more secure and enjoy greater peace in your hearts” (All Is Safely Gathered In: Family Finances).

Sewing is for everything and everyone! :-) Because I have so many pouch, I made this ENVELOPE SYSTEM WALLET which holds all my envelope. I used this TUTORIAL of making this wallet. This is very easy and I feel so happy of my new wallet.



My husband is happy too. The pouch is all ready in one place. And we decided to add one more category for our envelop system, it is for OUR HOUSE CONSTRUCTION in Escalante, Negros. It is a blessing. After praying so hard how can we raise our fund for the house and eventually planning to start the construction, we came up with this idea. After long time, only now we were able to come think of it. Now, if my hubby check the envelope for the House Construction, he is much more excited and eager.



I'm thankful for the Gospel of Jesus Christ 
because it helps me in every occasions of my life.
The scripture helps me when I was schooling. 
It helps me with my teenage problems. 
It helps me with getting married and strengthening marriage. It helps me in all aspects in my life. And it has great help in me in our financial. 
The Lord know how to helps us if we but know his will and ways. 
As we pray, ponder and do what the scripture would teach us, 
we will truly be blessed. 
I'm thankful to have come up with this kind of system of budgeting.
It one of the blessings I have in paying my tithing honestly.
I don't ask that I get rich but I ask to have sufficient.

I forgot something very important. Aside from being self reliant in our finances, one of the blessings also of paying our tithing is to be able to IMPART OUR SUBSTANCE TO THE NEEDY. You can read the whole chapter of MOSIAH 4. This chapter is an eye opener to me and I was able to develop the virtue of imparting of my substance to the needy. I sooo like this scripture! Read it, pray and ponder for it and DO it continually. Although not perfect but I'm happy I don't feel bad of giving but instead love and gratefulness. I've learned that also from my husband.

Here are some of the scriptures, talks and other reading materials
from Church that really encourage me a lot in all times! 

Self-Reliance and Family Well-Being

One for the Money: Guide to Family Finances, Marvin J. Ashton, Revised Nov. 2006

FamilyBudgetWorksheet

Financial Responsibility,” Young Women Manual 2, Lesson 46, 175–78

Constancy amid Change,” N. Eldon Tanner, Liahona, Feb. 1982, 46–48

Managing Family Finances,” Marriage and Family Relations Instructor's Manual, Lesson 8, 35–40 

Here's a video to further explain how Envelope System Works.

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