Your Questions About How To Budget A Household

John asks…


As a new wife and mother i would like to know exactly STEP BY STEP

richmama answers:

Congrats on the great new changes in your life! I too am newly married although haven’t ventured yet into motherhood yet! We recently went on a budget to save for a down payment on our first home. This is what I did…
I figured out how much we have coming in for income each month (net not gross). Then I looked at my last 3-6 months bills and grocery receipts to get an estimate of how we have been spending. Then I started a spreadsheet. Filled in What we earned the took out things that we can’t control like rent, insurances, phone, cable etc. That way I had an understanding of what we have left realistically after our “fixed” expenses. From that I then considered what our non-fixed expenses such as entertainment, groceries, clothing, gifts and such and set a budget of what we can spend in each category. One website I have found to be very helpful to see where we are at is… Its great cause you can see at a glance where you have gone over and where you still have to spend!

Donna asks…

How do high schools teach students about making a household budget?

Is there a requirement for high school seniors to learn how to do some financial planning? Would it help cut down on the number of bankrupcies?

richmama answers:

We didn’t have such ‘education’, when I was in school (’60’s),
and yes,
I feel that schools today should have mandatory classes in basic budget financing, credit card use, investment options. . .

Of course, if most people knew these basics. . . ???

The ‘rich’ would find it more difficult to prey on the ignorance of the ‘lower classes’ . . . And that just would not ‘do’ — in our democratic, capitalistic, consumer driven, society.!!!

Paul asks…

How a household budget surplus could provide opportunities to grow wealth?

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richmama answers:

Take the surplus and pay off debt, save it, or invest it!
Don’t blow it!

Ruth asks…

Any advice or websites to establish a functional household budget?

I am 32 and clueless about budgeting. I feel like I make enough money to pay what I need to, but I always just break even. I do NOT indulge in luxuries. I want to be organized with my spending, but I dont know how to start. Do you know of any websites or other resources that are quick and to the point that might help me? Thank you!!!

richmama answers:

Check out It is a free website and you can set up your budget, record and track expenses. It has some neat tools to create reports etc. It is free!

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