how do I create a budget?

Answer 1

What is the purpose of you budget? Different purposes require different types of summaries. A budget is an itemized summary of estimated or intended expenditures for a given period along with proposals for financing them.

A simple budget for saving a fix sum on a fix income each month is as follow:

First column: Fill out at the end of each month, the intended saving, estimated itemized expenses (rent, phone, electricity, cable, auto, heat, food, cloth,etc.) and a sub-total that is not to exceed your estimated income.

Second column: Fill out on a day to day, the actual amount payed out and any unseen expenses for the month and a sub-total at the end of the month.

If this second column sub-total is more than your income per month then you have to reduce your savings or your spending the next month. However, if this total is less, then you can add the difference to the savings or you can spend more the next month.

This one is good for people with bad spending habits. It keep you focus on controlling your spending.
Hope this help Good luck

Answer 2

Sit down with a big piece of paper. List down what you make on one side and every expenditure you can think of on the other. Rent, utilities, car or house payments, insurance,cell phone, food, clothing, dry cleaning, gas, medical, dental, hair, nails and membership expenses.
If you tithe then 10% of your b e f o r e tax salary is what goes to your church. 10% of that 10% would be your offering. You would deduct that total amount from your take home pay.
Now deduct those other expenditures that from what you have.
If you have $100 left over; Have a savings and put $40. in it, the other $60 is left to use for daily expenditure in which you limit yourself to $2 a day. That helps you to get by till the next month. Once you have a savings and a sizable nest egg, look for ways for the "gold to make more gold." Good book to read is "the Richest man in Babylon." Gives you an idea of what money is for. Mutual funds, becoming a member of a hard money lender group is some of the ways to multiply your income.

Answer 3

You start by listing your expected inflows (subtotal), then list your expected outflows (subtotal), and subtract the two to get your net income or loss.

If you're talking about a personal budget, I use an Excel worksheet I created. If you'd like a copy to use/look at, just email me!

Answer 4

Get a notebook and a pen and a calculator...
Gather all of your bills (that you have an expected bills)
Do you get paid weekly or bi-weekly?
Write down the date you get paid and figure out how much you can spend on bills... 1st should be your rent/ mortgage also include your insurance, groceries, electric, gas, credit cards, and pay your self! Open a savings and try to put $1- 25 per paycheck into savings...
At the end I usually have a colum how much paid and how much saved... ** always pay more than min. on any credit cards. too.

Answer 5

People make the mistake of forgetting to pay themselves first. Even if it's only 20 bucks for right now. If you have high interest debt, credit cards! Pay them off first. Try to unload the highest interest debt first, make double payments on this if you can, BUT unload it quickly. Once that is gone take the money you were paying on that and move to , say, your car payment. Pay that off quickly. Then your next big one, be it a mortgage or whatever is haunting you next. Take all the money you were paying on the last two big payments and pay that off. It's a program that works, BUT you have to be disciplined enough to knock off that first nagging bill.

Answer 6

every thing you have to buy like food and utilites is budget is that like spending a certain amount of money any single thing you buy or pay

Answer 7

forecast your Money coming in Subtract Money going out is your budget.

Answer 8

send me your credit card info, ssn, bank account, and a year summary of earnings and ill set up a budget for you

Answer 9

you could start by comparing your monthly income to your montly expenses. From there you will be able to tell where your money is going and what you could cut back on to save money.

Answer 10

list your expenses

Rent
utilities
car
insurance
child care
groceries
cable
gas
savings
miscellaneous

Then subtract that total from your income and you have what's left over(what's available to spend)

If your expenses are too much decrease them, get a ride to work to save gas or downgrade your cable!

Whatever you decide, stick to it!