ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Tips for Creating a Household Budget

Updated on May 6, 2012

 

The most important thing to most people is family and keeping them safe and secure. One way to help make your family safe and secure is by creating a monthly budget.  There are a lot of expenditures that come up when having a family and doing some personal financial planning will go a long way in making sure that everything you need is covered. You know every month that rent is due on the 1st that food needs to be bought and your electric needs to be kept on to run the AC on those hot days. But, there are also future expenses that need to be considered as well like your Childs education, that trip to south America, and of course that new digital TV you have had your eye. Where going to spend some time talking about how creating a budget and different ways to accomplish this and stick to a house hold budget.

There are many ways in which you can setup a household budget. There are free templates that you can use. (Like This one)

 

There are also a lot of software programs out there now that assist in household budget planning.

Each one of these comes needed with some basic information you will need to input which comes to no surprise. To start you need to make a list of your basic household expenditures. Start by writing down your major expenses like rent or mortgage, electric, phone, food, and transportation. But, it is not just these basics to consider also need to adjust in clothes, entertainment and credit card payments.


Once you have created a basic list of expenditures then you need to figure out the total monthly income that you are able to budget from. If you are the only one working it should be easy to calculate your income. If other household members are also working and you relies on their income as well you have to add there as well and get an exact total. Sometimes it is harder to know what your other household members are contributing. It may vary from week to week depending on their jobs or industry. So sitting down with your contributing family members and hacking out an exact amount every week or month they can contribute will go a long way in being able to plan your household budget accurately.

Now that you have outlined your household budget either using home budgeting software or the budgeting worksheet that I provided here. It’s time to create a budget. First thing is to balance your budget and see if your budget numbers are balancing out or if you are in the surplus or negative range. If it is balancing see if you can free a little up so that there is a surplus that you can have at the end of each month to save for those unexpected occurrences. If you are in the negative then you may need to cut out some of your listed expenditures or cut down on the ones you listed until you are at a balance or preferable a surplus to save.

Setting a budget can be tedious and sticking to it can be even harder but in the long run you will be glad you did. But getting it down on paper or in a software package that you have purchased is the first thing. Getting a handle on your household budget can improve your debt issue and even help you plan for that much needed vacation you need after reading this hub. However, you will still need to review your budget once a year so that you can keep up with the changes in expenditures or income.

Comments

Submit a Comment

  • Lgali profile image

    Lgali 

    9 years ago

    very useful info thanks

working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)