Profile of a Budgeting Mum: Ipshita Chatterjee.

Hi, what’s your name?

My name is Ipshita Chatterjee.

Any kids?

Yes, I have a daughter who is three and a half years old.

Do you work? FT/PT?

I am a designer and have a small online business called Minor Edition. I am also a freelance medical writer and I work full time from home.

Why do you work?

I work because I want to do something that I enjoy doing and contribute to my family income.

What are your child care arrangements?

My daughter goes to a private nursery for three days in a week. I look after her for the rest of the time.

How do you manage for money?

My husband and I work very hard to earn the money and therefore we are careful about our spending. We try our best to lower our living expenses and household bills and also avoid using our credit cards.

Do you worry about money?

Yes I do worry about money all the time as we do not have a lot to spare. Money has been even tighter since baby was born followed by starting my own business.

What do you waste money on?

We try our best not to waste money on anything. Our only indulgence is probably our birthdays. We do entertain a lot but, at home with home cooked food.

Have you made any big financial changes since having kids?

Leaving my day job and changing my career had brought a significant financial dent in our household. But we have tried to balance out by trying to reduce unnecessary expenses. We have realised that we can be happy even with less money.

Started saving for daughters future in a separate account because my child will need some financial backing for her education in future.

How do you make extra cash?

Wish we had a loft full of antiques to sell off and make extra money. Unfortunately, we do not make extra cash but we do concentrate on saving our cash by taking small steps.

Can you share 3 top budgeting tips for other parents?

  1. Shopping:
  • Shop online, after comparing prices, through the cost comparison website. There are also websites who offer cash backs when you shop online.
  • When shopping for food, do not fall for those buy-one-get-one-free deals on perishables, as they lead to wastage.
  • Planning the weeks’ menu before shopping prevents excess buying and therefore waste. Also avoid taking children to the supermarket if you do have to go there.
  • Purchase good quality clothing (especially winter gear) that will last longer.
  1. Buying toys and books:
  • Children don’t need tens of thousands of toys – they are happy with a few good quality and useful toys. Invest in some good pieces.
  • Share books you own by swapping them with friends and also visit the local library.
  1. Being green and self sufficient:
  • Lowering the heating at home, insulating the house and wearing warm clothes indoors can save household bills.
  • Even though I have not grown my own vegetable nor used reusable nappies, they would definitely lower costs.
  • Make, do and mend is a great way to recycle and save.

My blogs are here :

http://lilactreecreations.wordpress.com/

http://booksedition.wordpress.com/

Thanks so much for these brilliant tips and good luck with your business!

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1 Comment

  1. June 27, 2011 / 10:11 am

    Thanks Becky for featuring me in your blog. Much appreciate it

    Ipshita xx

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