Budgetting :hello

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    • #256046

      The easiest way to set up a budget is to list your current regular
      monthly expenses—rent/mortgage, utilities, phone, charge card etc. Then
      list bills that come every other month or quarterly. Compare this to your take
      home pay. Then look at what’s left and divide this between your other
      discretionary expenses—groceries, gas, eating out. The discretionary
      expenses are where you can make the most impact in your budget.

      Then, track your current expenses for one month (or if you
      use a debit card quite often, look through your checkbook register for the past
      month). You may find that you’re spending more on groceries and eating
      out than you realized.

      When I went through this process, I realized that I was
      spending over $600/month on groceries for my family of 6—and we were
      spending about $200 on fast food per month. Also, my kids were eating lunch at
      school—another expense that adds up quickly when 3 are in elementary
      school! Since then, we have reduced our fast food purchases, and I’ve
      reduced my grocery bill to around $400/month. I’ve been cooking more
      meals—especially using my crock pot and making 2 casseroles on Sunday for
      us to eat throughout the week. I make my menus out before going to the grocery
      store so that I know what to get ahead of time—and I shop the sales.

      Hope this helps.


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