Friday, April 24, 2015

Monthly Budget Planning - FREE FRIDAY PRINTABLE

Living on a budget takes some time and effort, but is well worth it.  Here is a tool to help you get started with your family's budget.

We use online payment tools to pay the monthly bills like our mortgage, utilities, phone and the such.  We use a cash envelope system for all the other monthly expenses and I will post on that soon.
Click on photo for the FREE Budget Planner
To get started gather bank and credit card statements, write down where and how you spent your money last month.  Compare your spending to the suggested budget table in this printable.  The suggested budget percentages are from Dave Ramsey'sThe The Total Money Makeover.  Then make adjustments for your next month's budget.
Track your spending by keeping all your receipts for the following month and find areas that you can cut your spending.  Set realistic goals, and stick to them.  We found that shopping sales and using coupons helped us cut our grocery bill drastically.  We budget $400 total for grocery and dinning out per month.  This usually breaks down to $75 per week for grocery and $25 for dinning out.  We stock up on items that go one sale and freeze meats and produce when needed.  A great resource for learning when to stock up on items is the book Saving Savvy: Smart and Easy Ways to Cut Your Spending in Half and Raise Your Standard of Living...and Giving, by Kelly Hancock. It took a few months to get a stocked pantry and freezer, but now it is all set and we are able to restock when needed.
Good luck with your budgeting adventures!

1 comment:

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