Budgeting help please.

[ninny]

Okay i need to make a budget. What do i need to put on it? I've never done one before so help please.

So far i have

rent/uilitys
food
pets
baby
gas
household things
meds


Whatelse

 

[Jen-pi]

Insurance

 

[ksalvagno]

Do you keep the bill stubs from all you pay? If you do, I would go through them month by month and list what you have there.

Also, do you have any entertainment expenses?

Keep all receipts for at least 6 months along with bill stubs to see where the money is going. Even get receipts for the small stuff.

 

[mandieg4]

Mine is set up like this:

Charity
Misc
Tithing
Clothing
Adults
Kids
Debt
CC#1
CC#2
Student loans
Food
Groceries
Restaurant
Fun Money
His
Hers
Housing
Farm
Mortgage
Home Improvement
Medical
Dentist
Doctor
Drugs
Insurance
Hospital
Personal
Gifts
Misc.
School supplies
Subscriptions
Recreation
Entertainment
Lessons
Satellite
Vacation
Savings
Buffer Fund
Emergency Fund
Retirement
Taxes
Income Tax
Property
Tax preparation
Transportation
Car Insurance
Car Payment
Car Replacement
Gas/Oil
Licence/Taxes
Repairs and Tires
Utilities
Electricity
Garbage
Gas
Internet
Phone

Overwhelming? Not really. I take the income for the month and find a place for every dollar until there is nothing left. What ever is left in a category at the end of the month rolls over to the next month. At this point I don't always have the money put something in every slot every month, but I try to put a couple dollars in each category when I can so that when the propane tank needs filled or when I have to pay the car tags the $5 or $10 I have put in every month has added up and I don't have to scramble for money.

 

[patandchickens]

Unless there is a big rush for this, my best suggestion would be to simply write down every single cent you spend on anything for the next few months. Then tot it all up. There will be a few expenses that aren't on the list because they happen too infrequently or at another time of the year (like if you pay your homeowners or renters insurance in a yearly lump sum, or take a summer vacation) but the great majority of your expenses will be represented and you can likely figure out the exceptions.

Then you will have not only the *categories*, but the *current amounts* you are spending, which gives you somewhere to work from

Good luck, have fun,

Pat

 

[mandieg4]

I have a computer program called YNAB that helps me keep track of everything, but I think it would be fairly easy to set up an excel file to do the same thing.

 

[AL]

check out some of these

https://www.navyfederal.org/pdf/publications/index.php (personal finance)

this one you need "Java" for
https://www.navyfederal.org/calcs/homebudget.php

 

[FarmerChick]

I agree with Pat. Unless you need to hurry a list----I would just write down every dime I spent and what it was for. Then you know exactly where your money is going and what you want to cut back and save etc.

 

[Mattemma]

I mark bills on the calendar when they are due,and circle them when paid. I also put in the weekly pay. Add it all up at the end of the month.

I put reciepts into a bag and add up the spending weekly.

I am on a thread over at mothering called the no spend challenge.Each day you mark in what you spend that day.People have a certain amount of days they plan not to spend.
I was able to put in all my spending for the month,and now I have a record I can just paste into my files.

 

[Wannabefree]

Don't forget property taxes if you aren't in escrow. We're not, so that is seperate for us.