Items you will need
- Internet ready Computer
- Spending and Pay records
Sample household budget forms can be used to organize expenses and control spending in the household. These sample forms are adjustable to meet many budget needs.
First use an excel or other software program to download your sample forms to create a budget to match your household needs. These forms are offered free online or can be purchased in the form of household budget software.
Next set up your sample forms to match your household budget income and bill paying schedules. These forms can be designed to manage your household expenses weekly, monthly, or according to pay period dates.
Next make a category for household income on your sample budget forms. This sample category should be divided into two sections, one for projected household income and the other to for actual income.
Now take your expenses and divide them into household budget categories on your sample forms. List your categories as: 1.Fixed Household Expenses 2.Household Needs 3.Personal Expenses 4.Pocket Money 5. Household Emergency funds 6.Savings
List all bills that must be payed on schedule such as rent or mortgage, insurance, etc. which are fixed amounts under the Fixed Household budget category. Household needs category includes such items as water groceries, phone, etc. that must be met in varying amounts. Personal expenses such as fuel, clothing, hair care, medical, pets etc. can fall under this category. Pocket money is reserved for expenses like lunches, school money for kids, entertainment, allowances etc. Emergency funds are reserved for unexpected expenses and to keep liquidity for your household. Three to six months income is a standard goal to work towards to keep in this fund. Savings include amounts you put away for any long term budget goals such as retirement, taxes, tuition, etc. and is an important category for your sample budget forms.
Total your projected household earnings and subtract your total allotted expense amounts for each budget category to get a estimated balance for your sample forms. Use this as a guide before recording your actual income and expense totals and adjust where necessary to achieve your balance.
Underestimate your earnings and overestimate your spending when projecting amounts for your household budget forms. Adjust your sample forms to meet your income and bill schedules and allot for savings and emergency categories first before balancing the remainder for pocket money to ensure saving and liquidity.