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How can I create a simple budget that is easy for my family to create and maintain?
Everything on the internet is so intimidating or either cost too much. I need something simple that we can stick with for a very long time. Sorry, please do not direct me to an internet page with a whole bunch of reading and testimonials. I just want something plain and simple. Thanks!
4 Answers
- Lauren FLv 71 decade agoFavorite Answer
If you know how to use microsoft excel, they have a great family budget template that has all the categories laid out and you just fill in the blanks. Just open up excel, go to the upper right hand corner (where the search bar is) and type in "family budget". You can download a great template there.
- Sean RobertsLv 71 decade ago
Jes has some great ideas. I'll just add a couple of thoughts.
I think you're intimidated about finances, because you're been frustrated with handling money for a long time. If you live near a college, you might go to the accounting department, and find a student who is willing to help you for $15 or $20 an hour. It shouldn't take more than an hour or two to develop a budget.
Another idea is a trade off. I'm an accountant, and budgets are easy for me. However, my social skills are weak. I found a friend who needed help with budgeting. I helped her with budgeting, and she helped me with social skills. It was a barter arrangement which helped both of us, and neither of us had to pay the other any money.
Budgets are like condoms. They are only useful if you use them. That means you reconcile your checkbook each and every month. You also stay within the amount of money you budget for each category.
- Anonymous1 decade ago
Here is what I do:
1. First write out all your expenses for the month.
Ex. Electric Bill (averages what?) -
2. After you have written out all your expenses including food and gas then you need to find out what your bring home pay is. Add up all your income after taxes.
3. Subtract your expenses from your income.
4. If your expenses are more than your income it's time to do some cutting. If your income is more than your expenses that is the amount you can save for the month. If you don't like the figures you can play with them until you like what you see.
A budget is all about planning what you will spend. Once you decide how much you want to spend on something a month then stick to it. You will be surprised how easy it is once you get use to it. Good luck.
Source(s): life - Anonymous1 decade ago
First you need to look at your inflow and then you look at your outflow. Once you've completed that then you create a budget. Get rid of things you don't need for the initial phase.