A household budget, in the strictest sense of the word, varies slightly from a family budget. The second choice involves our loved ones. Living on a tight budget plan is much easier when family is not involved---but hey, we love them anyway!
Household budget expenses (again, in the strictest sense
of the word) are generally less given to change.
Prescription costs, for example, are fixed. Never, ever skimp on your health and well-being for the sake of saving a dollar.
These are the items listed in categories when you
layout your financial plan. These are the expenses that really do not change from month to month. You know the ones that you can get away with putting on auto pay from your bank account. Speaking of auto pay accounts... they are an absolutely wonderful way to keep you on track. I know that I must have a absolute exact amount of money on a certain date to pay my bills. That keeps me from going off course. I really want to meet those deadlines.Your mortgage is your
mortgage. The car payment is the car payment, you
see what I mean? On the other hand, shopping for
better car insurance could be worthy of your time.
You can find ways to save money in these catagories though. Just think.
Do you really need to pay two hundred dollars a month for cable? Can you reduce your electric bill? (Make those little buggers turn off the lights!) Paying someone else to cut your grass? These are expenses that go into running a household, but managing money in these types of budgets are easy.
You decide if there is anything you can do differently. Look online for a free household budget worksheet and record your numbers. Work to bring the expenses down.
If you can live with basic cable, do it. For help with managing these expenses, you may need to look into refinancing or restructuring. Yes, sometimes these steps are very worthwhile.
Think of a this project in this way. What is the minimum amount of income needed to pay all your "fixed amount" bills, before you factor in clothing, food and entertainment. Simply said, how much money do you need to keep coming home to your own space?
This link will take you back to the StartMyBudget.com homepage.