What's the best way to set up a budget?

Answer 1

Get a plain sheet of paper. Write your monthly income on the top line. List each monthly bill on a separate line and show the balance remaining at the end of the line. List 'variable expenses next. If the balance at the bottom of the sheet is not zero, adjust something above until it is.

Answer 2

You have to start thinking S-M-A-R-T. What kind of cutbacks can you make? For example: I drink bottled water. Now at $1 a bottle on something that covers 60% of our planet is not smart. So I bought one of those water filters that screw into your faucet. I have bottles that I refil over and over again. I take them to work. Do you have a lot of small appliances around that house that are always on? I cut my electronic bill almost in half by unplugging all the clock radios and night lights. I also bought some of those florescent bulbs that look a lot like a regular bulb. These things use 80% less electricity than regular bulbs. You would be surprised, but these small things add up. I know I was spending money on the water filter and energy efficient bulbs but these things will pay for themselves in a month providing they pertain to you. If you really need the money right away start cutting back on your food costs. Romain noodles cost a dime and they taste just as good as campbells chicken noodle that costs $130 a can. Ok no chicken in romain noodles, but you are probably just missing about 4 tiny pieces of chicken. .Before you know it you will be ahead. And remember you have to start thinking S-M-A-R-T!

Answer 3

Retain one credit card for emergency for live and death situation, cut the rest in pieces throw into garbage bin.
Give yourself allowance $50 per month for think you want. No more than that. If any remain by the end of the month, throw it into piggy bank.
Bring lunch or Dinner to work, prepared from home.
Cut all unnecessary bills that you think you need but don't really much of the usage for you. For instant, people could walk to work, don't need 4x4 or sport car. Having fan instead of Air condition, Hi speed Internet connection is good but many pay ultra hi-speed for a few web surfing.. cut the bills by half...etc.

Don't pay software like excel, while you could use google spreadsheet for free or free spreadsheet software without a catch from free software foundation org.

Answer 4

Start with your take-home income. Then write down all your regular, recurring monthly bills (electric / gas, rent/mortgage, etc.). Next, write down your estimates for all other monthly expenses (groceries, household consumables, and so on).

Subtract your estimated monthly expenses from your take-home pay, see where you stand, and adjust from there. A nice page detailing all of this resides at:

Answer 5

Do you know how to use Microsoft Excel? I keep track of all my bills in there. I include the amount I receive in my checks, and subtract all the bills that I need to pay for that pay period. If that sounds too complicated, there are software programs that you could use.

Answer 6

first identify your monthly income & expenses and use a spreadsheet software to track it. then expand it for the year. if you're in a negative, then cut back on your expenses and/or get a part-time job.