What do you do when you get your pay?

@meapas (2436)
India
August 20, 2009 10:22am CST
What you do with your earnings? Come home and give it to your parents? or spouses? Or you keep it with yourselves? At our place we keep 50% and the rest is given to the head of the family for the monthly budget. I think this is the most organised way of running the family. In some of my friends cases I have noticed disorganised way of running the family. There is no accountability of any kind. People spend as they like, and by the end of the month they are broke. Every family should follow some kind of system so that they don't go broke before the month gets over. Every earning member should be accountable to the family, for the family to prosper. So my friends what you do with your earnings?
2 people like this
43 responses
@Iriene88 (5343)
• Malaysia
20 Aug 09
Dear meapas, I like the system that your family practice. This is a very good start..we need to contribute for the household expenses. If everyone contribute, then the burden is lessen. At least we can lessen our parents' burden, they have struggle to provide for our education and our expenses, now is the time we should help out and do our best.. Since I am not working, no financial contribution from me, BUT I contribute by doing the houseworks, cooking, folding the clothes and go marketing in the supermarket. My husband contributed some money for buying monthly groceries and food stuff. Wonderful topic to encourage everyone to contribute as much as they could for the well being of a happy family!
1 person likes this
@meapas (2436)
• India
20 Aug 09
Your contribution is no less, if not financially. You are running the home. You are the home minister and he is the prime minister. Do you save something regularly? Better be good at it. Your saving will be your best family friend.
1 person likes this
@meapas (2436)
• India
20 Aug 09
What about you? How you manage your finances?
1 person likes this
@vingyan06 (2486)
• Malaysia
20 Aug 09
Hello Iriene, It is good you and your husband play different role in the family so that everything at home can run smoothly. And how about your Mylot payout? Do you contribute it to the household expenses or you keep it as a saving? Meapas has given a good point! We should keep some money a side for saving.
@SomeCowgirl (32191)
• United States
25 Aug 09
I don't have a proper job yet, that is to say I only mylot for now. My fiance does a job though, and the money we are going to be getting is going to go towards ourselves and our wedding, and also for a car and christmas. The money I make on here is going towards gas, a car, and christmas. I am also going to be going back to school, learning medical trasncription and medical secretary stuff so that I can get a higher paying job. We live with his parents now, so also money will be going towards affording our own place, and for our future. We do want to pay rent but realize that my fiance's parents would probably not accept it, though my fiance and I used to mow for my mom and grandparents so that job is now going to his father as my fiance is at work busy, and I am here at home busy mylotting and keeping the house clean, as well as learning. Sorry for such a long response, lol!
1 person likes this
@SomeCowgirl (32191)
• United States
25 Aug 09
I appreciate your comment back to me and want to add that you seem to be a very nice person yourself! Bless you!
@meapas (2436)
• India
25 Aug 09
Very happy to know that you are so loving and caring. May God give you all that you wish in life. Your in-laws are really very lucky people and you too, getting such good people. Have a nice time.
1 person likes this
@BuffMom (2206)
• United States
20 Aug 09
I usually save it and the only time I spend it is to buy necessities like food, pay bills, for gas, things like that. I wish I could go on shopping sprees with the money I make, lol. But I have a family to care for and that comes first. I make over $100 a month so it really helps me out a lot.
1 person likes this
@meapas (2436)
• India
20 Aug 09
That is a very good habit. Saving and spending for basics. Hope your income increases for you to go on a shopping spree. Best of luck.
@Porcospino (31366)
• Denmark
20 Aug 09
My husband and I share the money we earn. My husband pays our rent and most of the bills. I pay for groceries and for the other things that we need to buy. If we have a lot of bills I transfer some money from my account to my husband's account. He usually pays the bills, but if he doesn't have enough money I help him of course. when I have paid for the groceries there is still some money left. Some of that money we spend as kind of "pocket money" and the rest of the money I tranfer to our savings account.
1 person likes this
@meapas (2436)
• India
20 Aug 09
Wow! what an understanding! A real family person. May the likes of you increases multifold.
@jellymonty (2352)
20 Aug 09
since I live alone in my studio apartment and I have no kids or dependents all the money goes into my bank account, I pay all the expenses needed and well I get to shop shop shop and I also get to do some travelling with the extra change I get. I am fortunate that I always pay my bills on time and I have no debts as I am always on time with my payments. Plus I save a lot too so when it comes to money management, I certainly know how to coordinate and organize my money.
1 person likes this
@meapas (2436)
• India
20 Aug 09
I sincerely hope this response of yours is well read by all the mylot members and get to learn something about money management. Keep rocking.
• United States
20 Aug 09
When my husbands paycheck get's deposited into our account the first thing I do is take 10% of the earnings and give it to charity. We then pay any bills we have. With what is left we split in half. Half goes into savings and the rest we have to use until the next paycheck. It works really well and we always have emergency money.
1 person likes this
@meapas (2436)
• India
24 Aug 09
Very nice to hear this. May God gives you more to give to charity.
@dpk262006 (58675)
• Delhi, India
21 Aug 09
Hi there! I am head of my immediate family, at present, therefore, I organise all the earnings, which I and my partner earn. When my parents used to stay with us, we would give a portion of salary to our parents and it were they who would run the show, as far as house-hold matters are concerned. Now, I run the show, therefore, I manage the funds.
@dpk262006 (58675)
• Delhi, India
24 Aug 09
There is nothing to enjoy, it makes me additionally responsible for financial matter.
@meapas (2436)
• India
24 Aug 09
So nice to hear that. Hope you are enjoying it as well with some savings.
• United States
21 Aug 09
At first, I bought things on eBay with the money I made here on MyLot. Nothing expensive though. Just things like movies. Now I've decided that, indefintely, I'm going to start just saving the money I make on here.
• United States
21 Aug 09
Oh wait, I just realized that I don't think you meant what we earn on MyLot? Sorry about that. I don't have an actual job at the moment and am still looking, so if you meant that and not counting this place, I can't give an answer.
@meapas (2436)
• India
24 Aug 09
If you are aware of your responsibilities, you can do it. Best of luck.
@aprces (1082)
• China
20 Aug 09
I guess you are a full time web earner,because you can give your family money to run monthly budget.According to your action,I'm sure you are a responsible person to your family.The member of your family must be proud of you I think everyone has 3 ways to deal with the money 1.Reserve 2.consume 3.invest
@meapas (2436)
• India
20 Aug 09
I think you have a well thought out plan, so nothing to worry. You will be able to manage.
@xichen7 (153)
• Philippines
21 Aug 09
I guess meapas does not mean he is a full time web earner. because he did't say the pay is from the internet. Is it right?
• China
21 Aug 09
i know the best way to deal with your money is giving your money to your wife.
@aerous (13434)
• Philippines
21 Aug 09
The first thing I could do is that to buy some clothes of my mother, give her some money and treats her in a restaurant because my mother will always be my mother that give birth to me and don't repay all her suffering when i was kid. Now, even in a small things i give pay back all her sacrifices in life...have a great day!
@aerous (13434)
• Philippines
25 Aug 09
if got more I save some. Have a nice day my friend...take care
@meapas (2436)
• India
24 Aug 09
So nice to hear that you care so much for your mother. Start saving a little. It will help you in future.
@wwkeen (247)
• Malaysia
20 Aug 09
well, in my case most of my earning 50% will straight goto my parent for monthly family expenses and 15% for credit card payment. Another 10% for saving, the rest for own monthly expenses.
1 person likes this
@meapas (2436)
• India
20 Aug 09
A very good way to lead a good life. Hope you are influencing your friends too.
@goodday (43)
• China
20 Aug 09
Hi!meapas! I think you have a good way to deal with you money! It is a very good way! I have learned a lot! Because i still a student,so I have to pay my study fees! i will try earn a lot ! Thank you!
1 person likes this
@meapas (2436)
• India
20 Aug 09
Best of luck for your studies. Learn all the good things from every one you come across and leave the bad. Be a proud child of your family.
@xichen7 (153)
• Philippines
21 Aug 09
I have a full time job, so every month I will get my salary, I will give it to my wife, let her to manage. But my money is really not enough, not means enough for food. I am just afraid I will lost my job one day. I should keep some money to pass that time. If I earn some money from part time job, I will buy some gift to my family. if still have some left, I will give it to my wife. :) Happy mylot!
@meapas (2436)
• India
24 Aug 09
Hope your wife has a saving habit. Best of luck.
@xichen7 (153)
• Philippines
24 Aug 09
My wife really have a good habbit of saving money. But saving money in the bank maybe is not a good idea, now I am just thinking I need to use part of our saving to invest. Happy mylot!
@patofgold23 (5069)
• Philippines
21 Aug 09
I get a paen and a paper... then I lost down everything I would be needign for the month ..i set aside that amount. then I set aside an extra amount for unexpcted expenses... then the rest, I put int he bank and forget about it.
@meapas (2436)
• India
24 Aug 09
You have a saving habit. So nice to hear. Keep it that way for ever.
• Philippines
24 Aug 09
yeah i do...... i'm proud of how I handle my money.... my savings int he bank have been there for the past 14 years and it's growing..... i never touch it as much as possible...and i managed to do that through the years.
• United States
23 Aug 09
I put it all in the bank.
@meapas (2436)
• India
24 Aug 09
So nice to know that. Have a good time. Thanks for your response.
• United States
21 Aug 09
I pay my bills and then either get a few things that I want or that my boyfriend does.
@meapas (2436)
• India
24 Aug 09
Have a saving habit too. It can be of great help.
@K46620 (1986)
• United States
27 Aug 09
I save them for college and a new bike
@meapas (2436)
• India
28 Aug 09
Continue your savings. You can keep on buying many more things but slowly. That is the power of savings.
1 person likes this
• Philippines
22 Aug 09
Honestly i am too far in my payout here in mylot but i am excited to reach my $ 10 cashout. i have plans when i reach that payout. i may buy something for my son, for my Hubby and of course for myself. i also have plan to go to Malls for some shopping and play on a rides with my son, for short a little bit bonding. hehehe
@meapas (2436)
• India
24 Aug 09
Good to know you think of so much for your family. Best of luck.
@nrn2003 (661)
• United States
23 Aug 09
i am single so i dont really have to give my money to anyone else. i have a full time job that when i get that money every two weeks i put it into my checking account. any money that i make from working online i put into my savings account and dont touch it. it is in case of emergencies or fors omething i am saving up for. i try to save a lot of money. just so that inc ase i need it i have it.
@meapas (2436)
• India
24 Aug 09
Good to know that you have a strong saving habit. Best of luck and thanks for your response.
• United States
21 Aug 09
Well, the main thing that my husband and I do is pay the bills that we have and then try to make time for ourselves to do something for us. We do not alawys do the things we want to do, but we do our best to try. We have learned to budget and stick to it. Sometimes the month is not good, but we manage.
@meapas (2436)
• India
24 Aug 09
Managing well is a skill and you have it in plenty. Best of luck.