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what is the best way to come up with a budget?

 
rileymommy

Asked by rileymommy at 4:15 PM on Jun. 28, 2010 in Money & Work

Level 17 (3,723 Credits)
This question is closed.
Answers (6)
  • if you go to microsoft templates you will find some great tools:
    http://office.microsoft.com/en-us/templates/default.aspx?ofcresset=1
    Mommy_0f_many

    Answer by Mommy_0f_many at 4:22 PM on Jun. 28, 2010

  • Mint.com is an awesome site to help.
    BradenIsMySon

    Answer by BradenIsMySon at 4:26 PM on Jun. 28, 2010

  • Start with keeping a log of everything you spend. Write down every penny that you spend no matter what it is, to get an idea what it is that you spend your money on. From there, make a list of all of the MUSTs (ie mortgage/rent, utilities, groceries, gas, insurance, etc) and so on . Oprah has a great form for this if you go to her website.
    TheDiva320

    Answer by TheDiva320 at 5:36 PM on Jun. 28, 2010

  • A budget for? Do you mean just a budget for your finances or to save for something?
    SwtSnowflake2

    Answer by SwtSnowflake2 at 4:16 PM on Jun. 28, 2010

  • Here is what I do:

    Firstly, categorize your spending habits, like entertainment, mortgage/rent, bills, groceries, etc. Then look at your past spending habits and figure out how much you have been spending in each category. Online banking makes this so easy now if you do most of your purchasing with a debit or credit card. Banks like Bank of America or Wells Fargo automatically categorize spending for you based on the place of purchase (although you'll probably have to go and recategorize some things). Then set your own goals based on what you have spent in the past. That way, you're being realistic and keeping tabs. I check my account at least every other day to follow my family's spending throughout the month.
    mickstinator

    Answer by mickstinator at 4:20 PM on Jun. 28, 2010

  • I recommend reading Dave Ramesy's "Total Money Makeover" It will change the way you think about money!
    RutterMama

    Answer by RutterMama at 5:26 PM on Jun. 28, 2010

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