If you want to invest in some software to help you with this process, you can do it with paper and pencil.
Here are the basic steps you need to follow to come up with a budget of your family:
1. The first and most important step is to collect all your debts, your loan payments and your monthly expenses. Do not forget about the meter, or the money for the costumes of children playing your school. Try to include any costs you might get in a month.
Consider the Bills-bills, such as insurance, which may only be paid every three months or every year. For this Bill, you can give them an average of 6 or 12 months to figure out how much you need to set aside each month so you can pay them when due.
Also don't forget to include money for groceries, gas, haircuts, clothing, etc. If you really want to make sure you don't forget anything again for a few months the bank and credit card reports, which should give you an accurate idea about everything you spend for your money.
2. Create a list of all sources of income. These include, from your cells, earnings, but you also want to get all of the income of the spouse or roommate, and if you get some money from several sources as well as all other income, be sure to include it here. Also, make sure you include your income after tax. For this purpose there is no point to the actual money you don't get.
3. Add everything to your list of earnings and all your earnings on the list separately. You want the total amount of how much you spend each month and the total amount of how much you earn each month. Once you get two numbers, you will reduce your expenses from your income.
Hopefully you will get a positive number after you perform this step. If you get a negative number, it means you spend more in a month than you earn and it's time to do some changes.
The first thing you need to do is check your expenses. Although most people don't like to admit it, many of us spend a considerable amount of money every month. Find an area where you spend more money than it should and stop, or at least slash.
There you have it, the 3 easy steps to create your own family budget planner. You must have a clear picture of where you can be moved now. This should make it easier.
Tag : Finance