Family Budget Planner

If you have thrown up your hands and said ‘enough!’ and have finally decided that it’s time to take control of your money, instead of the other way around, good for you. You couldn’t have picked a better time to take control. When it comes to getting your finances under control the first thing you need to do is to create a budget, and the first thing you need to have to help you create that budget is a family budget planner. A planner can be as simple as some spreadsheets from your local office supply store and a pencil or the latest software product that can help you track everything imaginable.

Budget Planner

It doesn’t matter which type of planner you choose, you just have to make sure that whatever you choose will do two things: it will be easy for you to use so that you will use it, and it has to have at least a little flexibility so that you can create whatever categories you need for your lifestyle.

Once you’ve found just the right planner for you all you have to do is use it. Consistency is a very important thing to keep in mind. If you go like gangbusters and enter every single expense and income for the first month but then never use it again, it won’t do you a lot of good. Likewise, if you only enter things sporadically and leave a lot off it won’t do you any good. To get the maximum effectiveness you will need to enter every bit of income and every expense.

Don’t let that turn you off. The fact of the matter is that entering these things will only take a few minutes a day or an hour a week. If you keep up with it you’ll find that not only is it not really that hard, but it can even be freeing to finally see where your money is going and get a handle on your finances.

You want to set up your planner by listing all your income. Make sure you include interest payments and all other forms of income that come into your household every month. If your pay varies from one month to the next you will need to look back over several months of income and average it out to get as accurate a number as possible.

Once you’ve got your income listed you will need to turn your attention to your expenses. This can be an easy area to overlook something so you should also go back over your checkbook for the last several months to make sure you haven’t left anything out. (It’s very easy to forget bills that only get paid quarterly, for example). Make sure you include not only your loan payments but medical bills, dry cleaning bills, vet bills, haircuts, clothing expenses, utilities, phone, cell phone, insurance premiums, etc.

It’s very important that you include everything and for those payments that are only paid quarterly just figure out how much they come to in a year and divide that number by twelve months than you can add that amount to your monthly budget.

Once you have your income and expenses all written down you can see just exactly how much money you have and adjust your spending accordingly. This can help you stop spending so much money on things that really aren’t all that important to you and instead spend your money on things that really matter. Having a good family budget planner is the first step, once you have the information you need, you can take control of your money once and for all.

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Categories: Budget Management