How do you make a family budget?

Answer 1

A family has to be made this way.

All expenditure in a month should be within the salary received.
Plus the family also should save something for emergency use. say hospital expenses.
It also has to think of saving some thing for
creating assets (buy a house or a car, etc.)
making investments for future expenditure such as chidren's college education BE or MBBS or MBA
and
marriage of daughter, etc.

If 5000 is earned in a month
then Rs. 3500 for monthly expenditure
500 for emergency expenses
1000 for future plans

only this way a family will prosper.............

otherwise ...........

one will become pauper.............

and

end up in debts.

.

Answer 2

Spend less than you earn.
Buy in bulk so everyone has something and the cost is lower.
Make choices and compare prices from different companies.
Keep an eye on electricity, water bills, know which is the largest cost on family income, this is usually the rent, or mortgage, second is food, third is medical bills
Save your disposable income for emergency costs, unforseeable crises, and repairs etc, start off by buying less important things second hand,
good question because even the mega mega rich need to budget (one assumes that they do, even lottery winners lose their millions by overspending)
Younger children are easiest to teach to be frugal, the older ones less so as saving is a habit hard to establish

Answer 3

On a piece of paper make 6 rows going down on the right side of the paper. In the first row -list ALL of your monthly bills. The second heading is Monthly , and the rest go in weekly ( wk. 1, etc.). Now, just fill in the blanks. Don't forget to add Bank-Ckg Acct 1 and Bank-Svgs. Acct.1. Put your income for each week in the top of the weekly headings. When you fill your paper out, just add up the totals of each week. If you go over one week - just add it in before it gets there. Also, don't forget food, and misc. items. We all have our weak areas and every penny counts. Do this for 6 months and you will see a big difference in your spending and how much you can save, even if it's only $20.00 per month. Good Luck.