How do you make your family budget?

February 7, 2010 9:51pm CST
As of now I do not have my own family. I'm still with my parents but my mom taught me how to make a family budget. Analyze how much money comes in and how much money goes out. -List first your income from all sources. -Next list all the fixed expenses like mortgage payments or your rent, car payments or insurance premiums. -List the expenses that vary, such as entertainment, recreation, or clothing. Writing down all your expenses even those that seem insignificant is a helpful way to track your spending patterns,identify the expenses that are necessary and prioritize the rest. The goal is to make sure you can make ends meet on the basics: housing, food, health care,insurance and education.
1 response
@landi927 (657)
• China
8 Feb 10
It is a good way to make your each expense more intellegent. I began to do such work from 2010 and after I did it, I found, I had too many unreasonable cost and lots of waste before. Now I know very clearly about my income and each outcome. The final result is my deposite of each month is growing. Hope you can enjoy and stick on this.