What is a Good Way to Start a Family Budget?

Question by cowgirlzpnw: what is a good way to start a family budget?

I am looking for a easy budget plan to set up for my family. I don’t want anything confusing or time consuming.

Good way to start a family budget – Best answer:

Answer by HowlnWoof

there are alot of other sites that have budget forms you fill out.
He has a great system, and I think there’s a “quickie family budget” form on his site. His ipod show is good too.


Good luck 🙂

Add your own answer in the comments!


  1. First list all the income you are getting.
    Then list all the non variable payments like mortgage or rent, insurance, loan payments, phone etc.
    Then list the estimates for the variables like hydro, heat, food.
    Subtract the payments from the income and work from there. You should save some money for emergencies.
    If you have some left you should allocate for entertainment etc.
    You have to keep track of your spending so you knwo if you are staying within the budget.

  2. The simplest budget I’ve ever seen was the needs & wants budget.

    Everything gets divided into those two categories: needs or wants. I find that there is a huge gray area, so I’d create a third category (nice to have or not imperative). Regardless, you’ll find yourself having to make some real difficult financial decisions (which will go a long way to solve you budget issues).

    Another method is to find out where you guys tend to overspend (dining out, shopping, etc.) and fill an envelope with a set amount for that category for that month.

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