How to Write a Household Budget
Writing a household budget requires you to keep track of all your expenses and income. If you have a computer, you may already have word-processing or spreadsheet software that can help you track this information. If not, simply use paper and pencil. A household budget will help you determine where you overspend, identify poor spending habits and highlight changes needed to ensure that you don't spend more than you have.
Other People Are Reading
Things You'll Need
- Pen and paper or a computer with software for budgets
- Expense receipts
- Income stubs or records
Instructions
-
-
1
Collect your household information. During the month before you write your budget, collect receipts for everything you spend. Collect the pay stubs for your income. If you have quarterly expenses, make sure you make a note and add these to the receipts you have collected. If your income changes from month to month, make sure you include these changes, too.
-
2
Write your household budget. You can use pen and paper or computer software to record all of the income and expense information you have collected for your household.
-
-
3
Create categories for each expense. For example, all supermarket food purchases should be collected as one expense and restaurant dining should be another expense. Utilities should be divided into heat, water, electric and other utilities. Car expenses should include gas and quarterly or biannual maintenance costs. Quarterly expenses can be recalculated to monthly expenses if needed. Make sure every expense is accounted for. Put all of your income for the month under one category called Income.
-
4
Write down this information or create a document on your computer to hold all of this information. Make sure you save this information.
-
5
Look closely at how you spend the money you receive and start looking for bad spending habits, overspending and ways to save money.
-
1
