Creating a budget doesn’t have to be difficult! It can easily help your family to reach financial success and to achieve whatever financial goals you are aiming for. One thing that our list of monthly expenses has done for us is to create unity as a couple. We are able to clearly see where we can save and cut back and where we can beef up certain areas.
How to Budget Money With A List of Monthly Expenses
This is a question that so many people ask because they don’t know where to start. The basic answer is to take your fixed income and subtract your list of monthly household expenses. Then, take what is left to add to your savings, investments, etc. As the saying goes, pay yourself first.
List of Monthly Household Expenses
Now, every family will have different expenses, but here is a list to get you going:
- House Payment
- Car Payment
- Medical Bills
- Extracurricular Activities
- Food/Eating Out
- Subscription Service
- Gym Memberships
- Coffee Or Fun Outings
- Gas/Commuter Needs
Create A List of Monthly Expenses Printable
You can easily create your budget list and print it out and hang it on your refrigerator. It will help you to stay motivated with your financial goals! We are old fashioned when it comes to budgeting-we like to type ours on excel and keep it where it is easily accessible for both my husband and I.
Honestly, you could use a piece of paper and a pen to get started. Don’t make it harder than it needs to be!
Budgeting For Beginners Tip
The step to creating your list is crucial for budget for beginners. Create your budget before you start setting concrete financial goals. This will help you to create a solid plan of action. If you are new to budgeting, you may also want to take time to learn a few simple frugal living tips.