The Family Budget

It's essential to have a Family Budget. You will not be able to know where you've been, or where your going, or how to get there without developing this essential Plan.

Categorizing Your Expenses Is Your First

Step..

For A Month, Keep Record Of How You Spend Your Income. Simply Put What You Spend In One Of The Categories >

Secondly, Calculate The Percentage Each Category Represents Of Your Total Income.

Example: Total Housing Cost $645.00 Divided By Your Income For The Month $3000.00

This Example It Represents 21.5%

Example Family Budget

* (The Percentages Represent The Amount

Of Gross Income)

Calculate Where You Are Now, And

Compare To Below Budget.. If Your Family

Budget Doesn't Resemble The Below

Example..

ADJUST ADJUST ADJUST ADJUST

Debts (Eventually 0%)

Housing (20-25%)

Transportation (10-15%

Utilities (5-10%)

Savings (7-10%)

Food (5-12%)

Clothing (2-10%)

Medical/Health (5-10%

Personal (5-10%)

Recreational 5-10%)

Church/Charitable (Your discretion)

Your Percentages Will Vary Dependent

Upon The Size Of Your Family, And Your

Interests.

The Constant..ZERO DEBTS

*Gross Income Is All Sources of Income You

Determine As Availabe Over The Next 3-

5 Yrs.

Your Family Finances

Debt..Family Enemy # 1