We just received our (technically, it was hubby’s) 13th month pay for 2013 and looking at our payslip, I just wanted to cry. The tax deduction was so disappointing, it’s almost the same amount as our monthly salary. Our government asks too much tax from it’s citizens and we don’t receive much in return. It’s so heartbreaking that our hard earned money goes to the corrupt officials of the government. They are scratching each others backs and no one is talking as to where the money went. For those who have no idea what I am talking about, read the news about Janet Napoles and you’ll know what I mean.
It’s so frustrating to be trapped in a country where the leader’s primary goal is not help the people but get ahead of their political careers. And now with the calamity caused by Typhoon Yolanda, a lot of people are lost, starving and has no roof over their heads. It’s heartbreaking to know that the tax deducted in our salary can feed a lot of families in Visayas and yet we do not know where it will go next year. Whose bank account would it fill?
It’s the Christmas season but instead of scrambling to buy gifts to friends and family, I sit here reading the news and getting furious with the lack of action from the government. People are starving for days and it took a couple of days for them to distribute the relief goods donated but a lot of concerned citizens. A lot of us sent our donations and a lot more who volunteered their time and skills, even the other countries lent their service and financial support but what is the government actually doing?
Our Christmas Tree is up and already decorated, but there are no gifts yet under the tree. I think it will remain empty for this year, except for the promised gifts to the kids in our family. If only I could forget my heartbreak for a couple of hours just so I can buy the items in their wishlist.
I was good in Math once.
I don’t know what happened between then and now but I loathe Math now. Budgeting is just too much work. If I make a mistake in my budget planning, the family’s finance will suffer.
Image (cc) Stuart Miles/FreeDigitalPhotos.net
Budget, how can a 6 letter word be so daunting?
There are only three months (and some days) left in the year and if I my computation is correct, we will be out of our two debts by January. Whew! What a wonderful thing to think about. By then, we will need to re-access our financial goals for 2014.
Financial goal/s is making a list of what you’d like to accomplish with regards to your money. I’m sure there are more coherent explanations out there but in our household, it is a list of what we would like to achieve financially. It can be long term or short term but we like to focus on the now.
Our financial goal for 2013 is pretty much planned out. Our long term objective is to pay all of our debts. Right now, we are focusing on 2 out 3 of our debts. Ideally, you should only focus on finishing just one, the smallest one, but these 2 debts are time sensitive and we have to pay it monthly. One will be finished by December and the other will be finished by January.
For our financial goal on 2014, we would like to shift our focus to our emergency fund. By then, we’re basically debt-free (except for the credit card ugh!) so we would like to increase our emergency fund before tackling everything else. We’re also planning to pay our kid’s tuition fee in full than pay in installments because it’s cheaper that way.
How is your family finance for 2013? Have you worked out your financial goal for 2014?
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