Creating A Budget

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Oy vey! Money gives me anxiety. Well, not having enough money gives me anxiety. Creating a family budget that lists all money coming in and all money going out helps with this.

List everything- what you make, any government support, any family or friend support, any guild/ union support. List it all. For outgoing list your finite monthly bills- this includes rent/ mortgage, car insurance, health insurance, electricity & gas, phone bill, car payment etc. If it is a bill on auto pay it is a finite spending. Now with the remanding balance ask your self- do we have money to save for a trip or rainy day? If the answer is yes, set that aside. I have an auto transfer from my checking to my savings every month. With the remainder set the funds into categories; groceries, clothing, educations, athletics, entertainment, allowance. Look over past bills to see what the spending looks like.

There are a lot of money blogs and resources available on ways to cut down in these categories. My top three are:

  1. Ruth Soukup’s Living Well Spending Less
  2. Kalyn Brooke’s Creative Savings
  3. Cherie Lowe’s Queen Of Free

So try sticking to your budget and at the end of the month you were way under or over in any category- change it to reflect your needs. This has been very helpful for us with taking control of past dept, current spending and future adventures.

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