WHEN one is single, one can pretty much live for the self. There’s more money to go around to buy that new cellphone and that new pair of shoes, and to go out with the barkada for gimik nights.

But when one starts a family, everything changes. Suddenly, there are responsibilities: mouths to feed, bills to pay, and future needs to prepare for. The days of frivolous spending are over. As financial journalist Salve Duplito, pioneer Money Smarts blogger, wife and mother of four said, “Motherhood made me realize that ‘irresponsible with money’ and ‘good mother’ don’t go well together. As parents, it’s up to us so the family won’t get buried in debt.” This “spending addict” has reformed and is on a crusade to help others learn to handle their finances well.

In her recent talk at the Family Finance 101 seminar organized by Money Sense magazine, Salve shared these basic tips to handling family finances responsibly:
[Read the rest of this entry »]