Thrifty Thursday: Starting a Budget

Ideas on starting a budget:


Make it a family affair:  get everyone on board--help everyone in the family learn to budget.  When everyone is focused on the same goals, it is much easier to accomplish the goals (and easier on relationships too).

Making a budget:  categorize your expenditures:  tithes & offerings, savings, utilities, food, car, debt payments, school, etc.  and establish a monthly or weekly amount that you need to meet these.  Be honest in your incomes and expenditures and with one another.  Also don’t forget yearly or semi-annual payments (insurance, taxes, etc.)  To get a better idea on how much each category should be:  look at past expenditures--how much has the utilities been over the last 3-6 months--then average it out (and if possible lower it).  Or if you don't have a record of past expenditures--start recording every penny spent or saved--write it down!--and see just where your money is going for 3 months.  Faithfully recording every penny really does help you be more aware of what your spending habits are and how you might be able to cut some expenses too.  Also, remember to include food storage in your budget.

Benefits of budgeting (and getting & staying out of debt):  feeling of freedom!--not shackled to a debt payment, know what have and what don’t, can be confident in making purchases knowing it is within your means to do so, teaches discipline and restraint, control over yourself and your finances.

Basic Budget Form from providentliving.org:
http://www.providentliving.org/pfw/multimedia/files/pfw/pdf/72727_FamilyBudgetWorksheet_pdf.pdf


Here is another budget form source, that I really like as it already includes food storage:
http://thefoodstorageshopper.net/2009/04/27/budget-tool/