How to Make a Household Budget Form

There is an old saying that states: the more you make, the more you spend. If this is the case, rather than get ahead when their income increases, many families end up spending more and thus continuing to live paycheck to paycheck. A great way to help you keep track of your spending and save money for the future or certain purchases such as a new home or family vacation is to create and follow a family budget.

Things You'll Need

• Microsoft Word

Instructions

How to Make a Household Budget Form

1. Create a new document in Microsoft Word and type family budget on the top. Next, insert a table with two rows and twelve columns just below where you typed family budget. Enter one of the twelve months in each of the top rows of your columns.You may have to create the document in landscape view or use more than one page to fit all the months. Press enter in the second row of your columns until it stretches to the bottom of your document. You will list your income and expenses for each month in this area. Copy and paste your expenses in each column once you have determined them.

2. Determine how much money your family takes home each month. You will want to base your budget on your take home pay after taxes. Calculate the amount of money taken from the families combined paychecks each month and write down the total. Enter your total income total on the top of the column of the corresponding month or for every month if your income remains consistent.

3. Make a list of your recurring monthly expenses. These are bills that must be paid on a month to month basis and are likely to include: your tithe, mortgage or rent, power bill, phone bill, water bill, car insurance, car payment, gym membership and cable television. Add any other monthly expenses you have such as child care, and credit card bills. On your budget document enter each of your monthly expenses in descending order. You may want to enter them into one column and then copy and paste them into the other columns.

4. Estimate other recurring expenses. You will want to estimate how much you spend on gas and groceries on a monthly basis. You can do this by determining how much you spend on these items in a given week and then multiplying that amount by the number of weeks in the month. Enter these items and amount totals onto your form.

5. Figure out how much you need to put aside each month for less frequent but necessary expenses such as doctor visits, car maintenance and repair, toiletries, and hair salon. To determine this, figure out how much you spend on these items in a given year and divide that number by twelve. If you spend twelve hundred dollars on doctor's visits each year, then you will need to set aside one hundred dollars a month. Calculate these items and add them to your form.

6. Subtract your listed expenses from your monthly income. The amount left over is your surplus and the amount of money you have left to spend on other items. Based on the amount you have leftover, decide how you would like to allocate it. Items you might want to include are: savings, clothing, eating-out, investments, vacation, donations and the like. Add these items to your form. Type surplus on the bottom of your columns so you can keep track of this amount.

7. Adjust your amounts as your income and expenses change and enjoy meeting your goals through the help of a family budget.