Monitoring Cashflow: Part 2

In July, the new financial year started, and every year, there is a bunch of electronic paperwork associated with this.

One task required at this time of year is rolling over into a new cashflow file. This year, I was determined to find something a little less labour-intensive than my old Excel spreadsheet, so I looked around a bit before I commenced.

The new file is also an Excel spreadsheet, but after having used it for a couple of months now, I am really happy with it.  It is based on a Microsoft template, but I have modified it considerably to show the detail that I need. I can no longer find the source on the Microsoft website, so I have uploaded it to Google Docs here. Please let me know if you have problems viewing the file, as I am a complete novice with Google Docs and may have missed something vital like permissions!

These are the basic features I love in the new template:

Monitoring Cashflow

During a chat on the phone with a friend recently, I happened to mention that I was glad she called, because I could take a break from the paperwork. She was astounded, and pitying, when she discovered that I meant I was reconciling our bank accounts with our expense receipts, recording our future bills as they arrive, and ensuring that we had sufficient cashflow to cover our bills for the next few weeks.

Should we tithe when money is tight?

One of the few Christian teachings I have been able to obey without question right from the very start is that of tithing: giving ten percent of income to the church in which I am a member.

When I went on maternity leave and we started living on one income, calculating our tithe became trickier, as my husband is self-employed. We decided to tithe on the amount he earned after taxes and materials (cost of business) were deducted.

During our recent time of financial hardship, I felt that God was challenging us to tithe on our gross income, before taxes etc, actually increasing our giving when it seemed we could least afford it. I ignored this prompting for some time, but God was persistent, and eventually I submitted.

Financial fear

During the past few months, our family has had very little income, and we have been stretching the last of our savings. Last week, my husband has found employment again, with a good prospect of further work to come, and I am thankful beyond words for God's timely provision.

I thought it would be helpful to open the floor to discuss the fear that comes when we realise that that we are at the point of being no longer able to cover our financial commitments.

Have you ever been at this point? How do you cope with unemployment? Or with the fear that drags your heart down in spite of your best efforts to remain hopeful?

How to budget on a variable and irregular income: Part 2

Last week, I looked at creating a budget on a variable and irregular income. If you missed it, go here and catch up. I’ll wait! 

Now that we’re on the same page, let’s continue with more tips for managing a variable and irregular income:

 

How to budget on a variable and irregular income: Part 1

First, let’s define the terms. Variable income means income that varies in amount, ie NOT a salary or wage. People with variable income may include those who work on commission, sub-contractors, small business owners, casual employees.  

Irregular income means income that is not predictable over time.  Two payments may arrive in one day, and then nothing for the next two weeks. 

Our family has lived with variable and irregular income since I stopped work for the birth of second child, four and a half years ago. Since then, and most especially in the last year, I have had to learn how best to manage in this situation.  I hope the following tips will be helpful to you if you are in this situation!

How to stretch your grocery dollar: part 2

As promised, here are some of my tips on how to make a small grocery budget stretch like Elasto-girl in between shopping trips:

1. Have a shopping routine – periodic trips make planning easier and minimises wasted food. Work out whether daily (!), weekly, fortnightly, or monthly shopping (or some combination) suits you best.
2. Have an idea of what will be eaten that week. I don’t use a menu plan, because I like to improvise, but I have a very good idea of how much food we need for each meal and/or week.
3. Use up leftovers. Label and freeze smaller portions for quick lunches later; make double of basics like bolognaise; stretch portions which are not quite big enough with extra veggies or carbs (rice, potatoes, bread on the side). Tinned beans are another great option to stretch meat dishes for a second meal.
4. Plan egg-based or legume-based meals as alternatives to meat
5. Learn how to bake basic sweet treats from scratch – cakes, brownies, scones, muffins, pikelets, pancakes, etc. Keep a good stock of baking supplies on hand and make use of online recipe collections.
6. Investigate keeping chickens, and/or planting a veggie patch.

How do you save on your groceries?

How to stretch your grocery dollar: part 1

One of the bonuses of having a low income is strengthened purchasing skills. Here are some lessons I’ve learned over the past year or so:

1. look for alternatives to the big-name supermarket – markets, greengrocers, butchers, bulk grocery suppliers
2. buy fresh fruit and veggies which are in season, and check whether they are grown locally. Local, in-season produce is usually the cheapest.
3. Prepare a shopping list. Estimate prices on your list before you shop (if possible) so you know whether an item on the shelf is a bargain or not.
4. Look beyond the SALE! sticker. Often, lower shelves will have cheaper brands of the same product which are not on sale.
5. Compare the price per unit – sometimes bigger is cheaper, sometimes not.

Tomorrow, I’ll share some tips on how I stretch our grocery dollar in between shopping trips.  But I’d love to hear how you get more for less at the shops.

Career choices

I have had three main career changes in my life, and I would dearly love to try a fourth. Each change has meant study, a temporary drop in income, a steep learning curve, and sense of leaving my past completely behind me.  

The first choice (music) was an obvious continuation from high school strengths, but very poor in terms of earning a living. The second choice (retail) was a successful attempt to gain regular income, but poor in terms of mental stimulation. The third (IT)  was great for income and mental stimulation, but poor in terms of flexibility.

What is your method of choosing your career? Did your first choice work out for you, and what factors would influence you now if you were to choose again?

How to become a work from home mom

...I wish I knew!

I have read a LOT of stuff on the internet on how to balance work and family by working from home (see for example Steve Pavlina, the Mogul Mom, and Simple Mom). But the stumbling-block for me is that key ingredient "do what you love", "follow your passion", "find your element".

When I ask myself that question, I get a blank. Every.single.time.  So I'm looking for a job, and I'm creating this blog to keep my mind alive and creative juices flowing. I know I'm good at listening, and I love it, but how do you turn that into a business?

Have you walked this journey? What was your solution?

Unemployment

I am currently unemployed, and finding it really tough. Our finances insist that I return to work full-time with 3 little children, 2 of them still at home, and I'm not ready. But I have to. 

How did you manage?