How Do You Determine Monthly Budget Expenses?
A budget can be a huge asset to your family. Preparing one can open your eyes to where you have been spending too much money. It can also help you get back to living within your means. Budgeting can even get you started with saving money if you haven’t done so before. The first thing you need to do when you create a budget is to list your expenses so that you know how much money you have left over for savings, vacation fund, or entertainment. Take out a sheet of paper and place “Name of Expense,” and “Amount of Expense” across the top. Draw a line down the middle in between the two columns. Start with your fixed expenses. These are expenses that remain the same each month. The first one you will list under the “Name of Expense” column is your total rent or mortgage payment. Most mortgage payments include taxes and insurance, but if yours does not you will need to include those figures after the mortgage payment. Place the amount of the payment in the second column entitled “Amount of E
