Are you a saver or a spender?
If you are married, between you and your spouse, who among you is a saver and a spender?
As for Debbie and myself, we are savers. The day when we started dating, we already discussed future matters and the way we ought to raise our family. One of the main issues in family planning which we both agreed upon is budgeting.
Being the head of my household, I lay out a budget, and she is easygoing. She would support my decision and work along with it. Here is how we did it.
We set aside a budget from monthly salaries in the below columns:
- 10% to support charity including of tithe and offerings
- 8% to both our parents
- 6% to reward Debbie and me
- 55% to cover all expenses
- 5% to education or self-development
- 16% savings and investments
If you and your spouse could hold similar values and impart it to your children, then 55% to cover all the monthly expenses is achievable. Being savers and we practice what we agreed upon, such a lifestyle pays off. We are now enjoying a minimalist lifestyle because we don’t have the spending habits, and so we don’t have clutters.
As for us, less is more.
It’s never too late to work out a budgeting plan which suits your lifestyle. If you are married, decide between you and your spouse, who should be the decision-maker or budget controller. It’s good to pass down this habit to your children and grandchildren because embracing the plan of budgeting is a healthy lifestyle. Also, when you could apply self-discipline on money management, there are very high chances you will use self-discipline in other areas of your life.
Less is more, and eventually, your earnings will help build a healthy lifestyle for you and your family. Enjoy spending within your budgets and embrace the less is more lifestyle.
Be a saver.