dual incomes

Hubby and I are in the Dual Income, No Kids (DINKs) category in the world of finances. He receives his salary monthly while bi-monthly for me. He has a salary for 9 months in a year and I have it all-year long. When I first faced this combining of incomes task, I was sort of perplexed. I thought about how to make a feasible budget with this. We receive our salaries at different times and for a limited time for the year (on his part). I have to save for our several plans and for the months wherein we will have to do with one income only.

After alot of thinking, researching about combining incomes and prioritizing plans, here is the saving plan/budget that I've come up with:

• Retirement - 10%
• Emergency - 10%
• Long-term savings (House) - 25%
• Short-term savings (Car) - 14%
• Workup (acupuncture, OB GYNE) - 5%
• Vacation - 4%
• Expenses (present and future) - 32%

As you may notice, I am saving for alot of different things. We have many plans and things that we want to do so a budget is definitely a must. Also, I have to make sure we have money during his vacation here and we only have to rely on my income.

I hope other wives of seamen start creating a budget too (if they have not yet done so). Sure, our husbands' income (or any family member) is more than what normal employees in our country earn but we should be financially-wise. It is a sad truth that there are families of OFWs who are left penniless even after years of working abroad. We must avoid this situation by creating a budget and sticking with it.