Family budget: the impossible is possible?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

If you ever count your expenses, you will be surprised! An impressive amount of money is spent on all sorts of unnecessary trifles. For example, to buy:

• sweets;
• high markup items (restaurant coffee, hamburgers);
• not really needed items that are heavily discounted;
• products similar to those you already have (same name but different color, different smell, etc.);
• products that you do not need urgently (often they will not be useful in the future);
• cute trinkets.

If you create a family budget and follow it strictly, you can quickly reach your goals. But first you need to decide on them. Why do you need it? Do you want to save money for a meaningful purchase? Is it painful for you to realize that you earn a lot, but you can’t afford anything? Do you dream of learning how to save money? Or are you driven by another motive? It is extremely important to define it. No need to plan just because so many do. This will get you nowhere.

How to calculate the family budget?

There are a lot of programs for planning. But they are not suitable for many because of their stereotyped. The best option is to keep records in the form of an Excel spreadsheet. In one columnwrite down all sources of income, in another - expenses.

Some people prefer to use special programs for mobile phones that help manage the family budget. This is very convenient, because immediately after the purchase, you can record the amount spent.

Based on the data of the first month, you can draw certain conclusions. How much money have you spent rationally? What expenses could you avoid? Based on these findings, you will be able to plan further actions.

How to budget a family?

The first rule of we althy people: save a percentage of income. The gold standard is 10%. If possible, it is better to save more. Your family's quality of life will hardly change because of this small amount. However, over time, you will be able to accumulate a fairly large amount of money. These 10% should never be spent. The best option is to put them somewhere. Let them earn you interest.

If you have debts or loans, consider a scheme to repay them. You need to get rid of them as soon as possible. Determine how much you can set aside each month to cover your debts.

If you want to save money for a meaningful purchase, contribute to the family budget the amount that you plan to save every month. Next, consider important costs that you can't refuse and whose monthly cost doesn't change (or changes slightly). These include car insurance, utilities, travel costs.tickets, training, etc.

Now consider other important expenses - food, clothing, gifts, vacations, etc.

If "debit with credit" stubbornly does not converge, there are two options. The first is to reduce costs, the second is to increase income. Moreover, the first option is relevant in any case. Many people who have just started keeping a family budget note that by giving up sweets, snacks and promotional items, they were able to save a lot of money and pay off the loan faster.

But don't cut costs to the bare minimum. In particular, you need to allow yourself a good rest. Otherwise, you will quickly abandon this idea.