Many people often compare women to the 'keeper of the family', however, there are many cases where women do not know how to manage spending and 'spend lavishly' on consumption.
Out of money before the month is up
Married for more than 5 years, but the savings and accumulation of Ms. NTBH (30 years old) and her husband in Thanh Hai commune (Thanh Ha) are not significant. Since getting married, Ms. H. has never spent time calculating the total expenses that the family spends in a month, but still has the habit of shopping on impulse.
Many times, according to her original plan, Ms. H. only intended to buy 1-2 items, but when she went to the supermarket or store, many more things came up. Almost every time she went shopping, she carried a lot of things in her hands and under her arms. Many times, she bought things that were not really necessary just because the item was on sale or given as a gift.
Ms. H. has a habit of buying a lot of food to put in the refrigerator to eat gradually. However, many bags of meat and fish have been in the freezer for a long time, and she does not remember when she bought them, so she has to throw them away many times. Recently, Ms. H. had to throw away several kilos of worms that she kept in the refrigerator since last year's season because she was afraid of food safety. When cooking for her family, even though there are 5 people, she often cooks many dishes because of the mentality of "full stomach, hungry eyes". After each meal, if she does not finish the food, she puts it in the refrigerator and throws it away after a few days.
Due to her lack of financial management and spending skills, Ms. H. has often found herself in a situation where she "ran out of money before the end of the month". Looking back over the past year, although the total income of the couple was nearly 30 million VND/month, Ms. H. was not able to save any money, even though her family did not have any major expenses or purchase any valuable items.
Life is getting more and more modern, the development of e-commerce makes shopping easier. But this convenience is very dangerous for women who have the habit of "spending too much".
In the past, if she wanted to buy clothes, Ms. PTH in Hai Duong City had to spend time going to a few stores to try on clothes. She often went with friends and relatives, so when she wanted to buy too much, there were people who stopped her. However, now she can just sit at home, surf the website, watch livestreams on Facebook and TikTok, and she can choose and buy the items she likes. Although she often bought products that were not as advertised on livestreams and had to give them away or not use them, every time she saw "floor-floor" discounts and bargain prices, Ms. H. was still attracted.
Currently, many e-commerce platforms have a policy of lending first and paying later, in addition to applying discount codes, free shipping, and being a loyal member of the platform, you will enjoy more preferential policies. Cashless payment makes Ms. H. not feel regretful like when spending cash.
How to manage expenses?
Recently, many people have posted articles about family spending in social media groups. On TikTok, there are many videos with the theme of making economical meals with a cost of 100,000 VND/day for 4 people or a meal of 50,000 VND... attracting a lot of attention from the online community. Although there are still many controversies, from these videos, many people have looked back at how they manage their finances and spending.
Every month, Ms. HTN (33 years old) in Tan Binh ward (Hai Duong city) plans what to buy and spend for her family of 4 in 1 month. Which expenses are for food, funerals, which expenses are for savings, which expenses are for accumulation. Her family also limits eating out and mainly cooks at home. Ms. N. often cooks rice to bring to work, only buys enough food to eat to avoid excess and waste. When shopping, Ms. N. always follows the principle of prioritizing what she needs over what she likes.
According to Ms. Pham Thi Van Anh, Director of Bac A Bank, Hai Duong branch, to manage finances and spending scientifically, housewives need to estimate the fixed monthly expenses that need to be prioritized and set a limit for flexible expenses. Women should create a spending table to record all daily, weekly, or monthly expenses. Then, categorize the expenses to know clearly what their money is being spent on. Thereby, housewives will have an overview of how they are using money, gradually eliminating unnecessary expenses.
To avoid emotional spending, women should have a specific, clear plan before shopping. Think carefully before buying anything and only buy what is really necessary. For annual recurring expenses such as tuition, insurance, medical care, etc., women can base on the payment time to set up short-term savings corresponding to the time they can save in the account.
In addition, housewives can install financial management applications on their phones or websites to conveniently track income and expenses in a scientific way. It is necessary to clearly determine how much money to save each month to prepare for and serve future spending needs. Each month, you can deduct a portion of your income to deposit in the bank and spend the remaining money or deposit money immediately when there is unusual income...
Being equipped with knowledge and skills in financial management will help women spend scientifically and manage their families better.
HT