![]() I also didn’t include taxes (you can search for “IRS withholding calculator” to double-check the amount of taxes your employer “withholds” from each paycheck to pay your taxes).I didn’t include “dining out” or “entertainment,” as those come out of the guilt-free spending category.At the end of the year, if I haven’t spent my “stupid mistakes” money, I save half and I spend the other half.) That changed things quickly, and I currently save $200/month for unexpected expenses. Then, within two months, I had to go to the doctor for $600 and I got a traffic ticket for more than $100. One category I recommend is “stupid mistakes” or “unexpected expenses.” (When I first started, I saved $20/month for unexpected expenses. For example, maybe you don’t have debt to pay off, but you do have monthly expenses for your pets. If you see any glaring omissions of your major spending categories, add them. To find the answer, let’s walk through this step by step. You’d think it would be easy to figure this out, right? Ha! It turns out this is one of the toughest questions in personal finance. ![]() Before you can do anything else, you’ve got to figure out how much these add up to. A good rule of thumb is that fixed costs should be 50% to 60% of your take-home pay. Step 3: Calculate your fixed costsįixed costs are the amounts you must pay, like your rent/mortgage, utilities, cell phone, and student loans. Now, let’s break down how to come up with your numbers for each category. Your spending doesn’t have to match these exactly, but I would be cautious about straying too far from these percentages. The percentages for each category outlined above are my recommended guidelines. Or follow along over on Pinterest on my Household Organization Diet pinterest board.Vacations, gifts, house down payment, emergency fund, etc.ĭining out, drinks, movies, clothes, shoes, etc. You will also need to have access to your past bank records. To get going on the budget, you will need to gather up all of your regular bills. If you’re just getting started on this family binder series with me, start with this post on how to organize your bills. “Financial health is re-stored in two ways – first by doing the inner work of changing how you think and feel about money and then by doing the outerwork of practical money management.” – Marianne Williamson Writing everything down and using these free budgeting printables is one of the easiest ways to get started. Empowering yourself with knowledge and making a few educated changes in your spending habits can really make a huge impact for you and your family. Taking control of your finances, however, can go a long way in reducing your daily stresses and setting you up for future success. It’s definitely not my strong point either. Yes, I know the word “budget” may make some of you want to turn around and run away. These free budgeting printables are the first ones to be updated, but stay tuned for more! If you have anything specific that you’re looking for, let me know. ![]() I’m also working on updating the printables so they match the printables from The Household Organization Diet. ![]() It’s not my favorite task, but I’m slowly going through it one section at a time, taking out things I wasn’t using, and revamping how I want to organize it all. One of my goals for this year is to update our family binder. Reduce your stress and help set your family up for future financial success! Get your finances organized with these free budgeting printables and easy budgeting tips.
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