Of managing finances | ExpatWoman.com
 

Of managing finances

9
Posts
EW NEWBIE
Latest post on 27 November 2014 - 13:23

Hi ladies! I need yo help.

How do you manage yo finances in terms of saving and taking care of your parents etc... We are a newly wedded couple and we have realized our financial management requires a lot of guidance. Do you send your parents money every month? How do you balance that with saving to buy a house/land? Is there anywhere we can go to learn financial management?This is a very sincere question and I appreciate all who will help.

4423
Posts
EW MASTER
Latest post on 27 November 2014 - 14:36
Thanks for clarifying. Too add to Stix, a lot of people find it best to set up an excel spreadsheet, to keep account of your earnings, required spending (housing, elect/water, food) and then spending for fun, and whatever is left you save!
318
Posts
EW EXPLORER
Latest post on 27 November 2014 - 14:29
To answer your question - no I don't send my parents money every month, but if they needed it, I most certainly would. In terms of learning financial management, I'm not sure where you could go to learn that, but I would start by setting a budget, discussing your financial goals and be careful about your spending for a few months and see how things go. This will give you a realistic idea of what you can afford to give your family and what you need to save for your long term goals. There are plenty of online budget tools that may be helpful.
5452
Posts
EW MASTER
Latest post on 27 November 2014 - 14:24
I see. Sorry for the misconception...
9
Posts
EW NEWBIE
Latest post on 27 November 2014 - 14:19
pbbc - ok here to help, but question why would you want to send your parents money every month? The OP is most likely Muslim. In Islam, it is expected that adult children support their parents... No im not Muslim, but I come from a country where the economy is not so gud and sometyms ppl struggle to even put food on th table. My parents work though...
5452
Posts
EW MASTER
Latest post on 27 November 2014 - 14:14
pbbc - ok here to help, but question why would you want to send your parents money every month? The OP is most likely Muslim. In Islam, it is expected that adult children support their parents...
4423
Posts
EW MASTER
Latest post on 27 November 2014 - 13:35
pbbc - ok here to help, but question why would you want to send your parents money every month?
 
 

ON EXPATWOMAN TODAY