Two things will help you plan your budget: scrupulous accounting of finances and strict compliance of expenses with the approved plan. The preparation and execution of the family budget can be approached with all the principles of state control of finances. The only difference is that you will receive income, and make expenses, and control spending on your own, performing the corresponding roles of a fundraiser, manager and controller in one person.
Instructions
Step 1
The very first habit to get rid of in order for budget planning to make further sense is the habit of wasting money out of control. Try to start saving costs. Collect receipts for all purchases made during the month, including groceries, fares, utilities, and other expenses that were incurred. At the end of the month, analyze the amounts received. They will be useful to you further.
Step 2
Define your own strategic and priority goals: large investments, for example, in the construction and renovation of an apartment or house, buying a car, household appliances, etc. Further budget planning will depend on them, as well as on the level of total family income, since it is obvious that achieving the same goals related to money accumulation at different income levels will take different time.
Step 3
The following approach is quite widespread, allowing you to correctly plan your budget. All expenses are divided into three groups:
• Operating expenses intended for payment of utility bills, meals, etc.
• Savings that create the basis for large purchases;
• The reserve part, acting as a kind of guarantor and financial cushion for unforeseen events.
Assign a certain percentage of monthly income to each of the groups. It is difficult to give recommendations on specific percentages, since they can be different for everyone. The distribution depends on income, price level, priority of the set goals and can sometimes be revised.
