A Family Budget in Five Steps
Here are those steps with some patterns of importance that should be considered. These are the steps you take to make a budget:
1. “Enter your monthly net income”
No matter where you come from: Work, spouse, child support, unemployment, charity, tips, etc. If your income varies, try to put an amount that is average. Please show only net income, which brings her home.
2. “List the amount you deposit monthly savings income to net”
Saving is very important and should be done first of all spending. Ideally at least 10% of their salary.
3. “List your fixed monthly expenses”
Consider what are the expenses that must always be paid. Note that the first thing you have to list your needs: shelter, food, transportation, communication, etc.
4. “List your variable expenses”
Now make a list of these expenses that may not happen every month but that should always be taken into account: shopping, special events, Christmas, holiday travel, etc. “To get an estimate of your monthly expenses total the variable and fixed expenses and divide that number by 12.
5. “Make a list with an estimate of extra costs”
Always keep in mind that there are contingencies for which you need money, this is not necessarily an emergency, may be going to the movies, eating with friends, order food to go, etc. We need this line because we are not robots, and the opportunity to have a margin of error (and fun) is always necessary even with the tighter budget.
It is important to know where your money is going to understand how to grow. The budget is essential to be able to allocate more money to your financial future. Just think, if you save $ 5 each business day breakfast / lunch / coffee from Starbucks could have saved $ 13,000 in ten years. Many people call this the savings fund “Latte.”
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