Question

What categories of expenditures are good to include in my family budget?

Asked 1 year ago

Answer

Answers:

  • A good search word is Family Budgeting. There seems to be variations of the categories from website to website but found the site as a good summary. It includes percentages expected too. Some tools available like www.bank2budget.com use these categories to measure against the national percentages. I use this tool and it simplifies and automates our financial activity against the national standards. Good Luck! http://www.creditcounseling.net/pdf/Budgeting.pdf
    Answered April 2, 2011
  • Start with items that are major expenses such as: rent/mortgage, utility bills, credit card or other bills, food, and transportation. Then you will want to look at where the rest of your money goes each month and allocate an amount to it. This could be categories such as: clothing, entertainment, hobbies, or eating out at restaurants. This will be a good start to creating your family budget!
    Answered December 1, 2010

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