HOW TO BUDGET HOUSEHOLD?
As a new wife and mother i would like to know exactly STEP BY STEP
how TO RUN A SUCCESSFUL HOUSEHOLD (FINANCES) .
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 mint.com… Its great cause you can see at a glance where you have gone over and where you still have to spend!
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?
We didn’t have such ‘education’, when I was in school (’60’s),
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.!!!
How a household budget surplus could provide opportunities to grow wealth?
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Take the surplus and pay off debt, save it, or invest it!
Don’t blow it!
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!!!
Check out expenseRegister.com. 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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