Question by  UsRNom (25)

How do you go about creating a household budget?

My household has never had a budget and we need one.


Answer by  largetuna (118)

To come up with a household budget, you need to determine exactly how much your family spends each month. Make two columns, one for essential things such as food, utilities, other bills, the other column for entertainment such as going out to eat, movies, etc. Look at both of these columns and see if you can limit excess spending.


Answer by  grandmas (280)

The first step record monthly income. Next, list the absolute necessary expenditures for the month, i. e. rent or mortgage, utility bills, anything that is a fixed amount, then list amount for groceries, clothing, gifts, miscellaneous,also an amount for emergencies. Take a small percent off the top for a savings account.


Answer by  Kattie (598)

Determine how much income you have per month on average. Then you should make a list of your average monthly expenses. Eliminate expenses that are unnecessary from the budget entirely and try to reduce the cost of other expenses. You should also budget for savings (first) and leisure (last).


Answer by  Roland27 (16334)

You can find many templates online for household budgets. Make a list of your income and all of your expenses and then fill in the chart that you printed off from the internet.

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