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Friday, July 10, 2009

balancing the budget

How does this blogger balance the monthly budget? An average family in Metro Manila will need a combined income of P15,000 to 25,000 per month to make both ends meet. The minimum daily wage pegged at less than P12,000 per wage-earner per month makes me wonder how one family breadwinner gets by. Here now's my list of monthly expenses.
Food (for 4) ......................................... P 5,000
Transportation (home-office only) ..... 3,440
Electricity ............................................... 1,300
Water ......................................................... 300
Internet ..................................................... 450
Phone (family extensions) ...................... 900
Contingency fund ................................... 1,139
Other Bills & Support ............................ 4,000
LPG & rice ................................................. ????

I will need additional resources for:
Baby's needs
(health care, hospital bills, etc.) ......... 40,000
Helper (salary) .......................................... ????
Possible lot or house acquisition ........ 50,000 + loan
Emergency and savings account ....... 50,000
Visa and Air fare (optional) .............. 100,000

This is a tough budget to balance.