When calculating expenses, put them into categories. When determining income, use the amount you bring home after taxes and after any other deductions, such as child support, are taken out. Look at where you spend all of your money and make sure you include that category in the coming month (if you know you will have that expense again).A realistic budget starts with determining your monthly income and then calculating all of your monthly expenses. The best way to predict your future spending is to look at your previous month. If you are just getting started with budgeting, or if you have been feeling totally unorganized with your money, this is where you should start. This is what your budget is created from. This is where you plan to spend your money in the coming month. This is what makes up your “projected expenses” for the month. When you go to set up your budget for the month, make sure you have every category you will be spending money in listed. You may have some different categories depending on where you are in life. These are the most common budget categories you should be paying attention to as you spend your money every month. These are categories you can decide to spend less in if you want to by just spending less or finding a cheaper alternative.Ĭommon Monthly Expenses to Budget For: Giving/Tithing Saving These are things you will have more control over. Then the rest of your budget will be comprised of variable expenses. You will have a base of fixed expenses that are hard to cut without moving, selling a car, changing insurance, etc. Or, there are variable expenses, meaning purchases you decide to make on a daily basis (food, cosmetics, fun activities, etc.). These bills are paid regularly (weekly, monthly, quarterly, etc.). There are fixed expenses or expenses that don’t change in an amount from month to month. What Monthly Expenses Should I Budget For?
BUDGET MONTHLY EXPENSES FREE
NEW TO BUDGETING? USE OUR FREE BASIC BUDGET SETUP SHEETS TO GET STARTED TODAY! GET INSTANT ACCESS WHEN YOU SIGN UP BELOW! You will be better off for it, and you will spend less once you start paying attention to your monthly expenses. It was pretty stupid now that I look back at it.ĭon’t be like us! Do better and start paying attention to what you are spending in your certain budget categories every month.
What’s super dumb is, we were in complete control the entire time, but we were behaving as if the “money Gods” were determining how much money we would have every month. The financial stress we were facing was hurting our marriage. As fun as that emotional rollercoaster was, something had to give. My husband and I just watched our bank account bounce up and down as we got paid, paid bills and spent money, the account would get low, we would panic and go on a spending freeze until the next payday. I couldn’t have told you how much I spent on toiletries, food, heck! even the monthly cost of my cell phone was unknown to me. When I first started budgeting, I had no freaking clue where my money was going. Sometimes we don’t even know what our expenses are until we actually sit down, look at them and put them into the appropriate category. We all feel like we have a million monthly expenses, am I right? The money seriously just flies out the window every month with so many little things, in addition to our “maintaining our life” necessities.
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