Is the end of the month approaching, and you are planning to defrost ready food until the day of payment? A vision of extra spending scares you? Here are some ways to effectively plan your home budget.
How to budget money?
You are constantly missing money, which is going on, you do not know what, and before the payment you are in stress, will it be enough for you first? Or maybe you have to borrow to survive. Here are a few tips on what to pay for your expenses to be lower.
It will be easier for you to control your home budget if you carefully plan your expenses. A special calendar can help you with this. Thanks to it you will know what costs will have to be borne in a given period and how much money you will have for other purposes.
Planning the monthly budget begins with a summary of the funds that we have at the time, including those that were left from the previous month and just received transfer with remuneration. To sum up the budget, we add money that we have in our account, in our pocket or on other bank accounts.
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Then, in setting the house budget plan, we go over to write down all the costs we have to pay. For starters, let’s just look at the next month. What will we need for this? Bills, receipts, e.g. for larger grocery purchases, as well as a card and a pen. In the middle, we place the net amount of our earnings, including allowances, e.g. in the form of bonuses.
The first part will concern expenditures that are fixed, i.e. water, electricity, gas, rent to cooperatives, internet, television, loan installments, insurance, fuel expenditure and public transport. We save all amounts next and add up underneath. The next batch of expenditures is the ones we spend on consumption, i.e. food shopping, cultural life, e.g going to the cinema or theater. Again, we separate and sum again.
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We compare the planned expenses with the amount of remuneration. You are in the plus, that’s good, we can go to step two. Are you in the red? Analyze the expenses once again and think about which ones you can limit. Remember that basic expenses can often be up to 60% of your monthly salary.
The next step will be to write off all irregular expenses. Most people forget about this point when planning a house budget, which is why their plan fails. Non-systematic expenditure is an important and quite a large part of home finances. To better plan your expenses, you can install money budgeting app.