#Free household budget pdf
#Free household budget professional
#Free household budget download

Cushion (this is money set aside to offset surprises, mistakes, or unexpected expenditures).Home (mortgage, rent, property tax, insurance, repairs, etc.).Here are some suggestions for categories: Otherwise, you might get confused or overwhelmed by all the “hair splitting.”Įxample, instead of having “food, paper products, drug items, etc.” as categories, you can lump all those expenses under “groceries.” Items like “pet supplies” can be their own category, but you might want to include vet bills in that category. It’s a good idea to keep your categories as general as possible while still preserving clarity. You could also take the highest amount, $175, and go with that. If they vary, figure out an average by looking at the last three to six months’ worth of expenses.įor example, if your electric bill was $150 last month, $140 the month before, and $175 the month before that, then you can estimate a monthly expense of around $155 for electricity.

#Free household budget professional

Always consult a professional when calculating for tax purposes* Keep Categories Expenses Broad *Please note that this is very basic advice based on my own experience.

If you are self-employed, subtract estimated taxes, insurance costs, retirement account savings, etc. This means your income minus taxes, insurance, 401K deductions, and so forth. Start with Your Net Incomeįirst, figure out your net income for each month. Once you have a grasp on that, you can begin a bit more idealizing, such as saving for vacations, desired items, etc. Goals are important, but a family budget should first focus on the numbers you’re dealing with. Remember that your budget is a tool, not a dream machine. If you discover this, you need to look carefully at your income section and see where you can increase it, and look just as carefully at the expenses and see where you can make cuts. You may find yourself surprised the first time you do a budget and discover that you actually don’t make enough money to cover your expenses. Real needs are things like clothes, food, and shelter but designer clothes, gourmet food, and a palatial dwelling are more like wants! Expenses should not be greater than your income This can be a hard one, but it’s vital for a budget to function properly.īeware of convincing yourself that a want is a need when it isn’t – you may just be trying to find an excuse to buy the item. In budgeting, there are some principles that are considered basic. Steps to Getting Started on a Family Budget

#Free household budget pdf

Keep a running tally of your expenses for several months, and then look at where you are.ĭownload Your Free Household Budget Worksheet PDF

This is the last section of your budget plan. 3 Actual ExpensesĮstimation gives way to “real” numbers when you write down your actual expenses during the month. There will probably be more estimation here than in the income category.Īs you break down your expenses into understandable categories and numbers, remember that charitable giving or any giving away of money should be also listed as an expenditure. Try to make your categories fairy general – “Entertainment,” for example, is a more general category than “computer games, movies, cable, and DVDs” listed as separate categories. It’s good to include enough detail that you have a grasp on things.īut splitting your expenses into dozens of little categories will probably only frustrate you. Or you might have income that changes very little month-to-month it should therefore be pretty easy to figure out your monthly income. Simply take a look at your net income over the last three months and estimate an average monthly income. The income area of your budget is not the place to write down ideals. There will be some estimating here, no doubt but make sure it’s estimation, not dreaming, say experts. The first place to start in the outline of your budget is with your income. Here are some tips to help you formulate a simple family budget. Sometimes it’s good to start with the basics, such as the basic outline for a budget and the categories you want to include. Have you been talking about a family budget, but aren’t sure where to start?

#Free household budget download

Download the Free Household Budget Worksheet.Expenses should not be greater than your income.Steps to Getting Started on a Family Budget.Download Your Free Household Budget Worksheet PDF.