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My Budget

I came up with this budget when we had an inconsistent income. I listed the categories in order of importance. When I divide the money up it goes into the first category and then I work down the list. That way if we fall short one month we have the most important things paid. The best advice that I got when creating my budget is to come up with the dollar amounts myself instead of trying out someone else’s. So I’m not putting how much we spend on each thing. I know that we pay more for rent than people in other states but we don’t pay nearly as much for heating.

  1. Track expenses, record everything including coffee at starbucks
  2.  Come up with categories (or use mine), add in dollar amounts that you got from tracking expenses
  3. Get together with your spouse and decide in what order to place the items (This step is only necessary if you have months where you fall short of your budget)
  4. Record all income and make sure it is more than your expenses. If not then you will have to make budget cuts. Decide what items you can reduce or cut out entirely
  5. Re-evaluate your budget every few months.

My Budget

  • Rent
  • Utilities (gas, water, electric)
  • Phones
  • Internet
  • Debt repayment (credit cards)
  • Insurance
  • Car (loan)
  • Car (license)
  • Car (insurance)
  • Car (gas)
  • Car (repairs)
  • School Expenses
  • Groceries (food, household items)
  • Postage
  • Doctor
  • Dentist
  • Clothes
  • Homeschool
  • Vacation/Trips
  •  Presents
  • Entertainment/family activities
  • Eating Out
  • Allowance
  • Savings
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