My husband and I recently decided we needed to start living on a budget. It has been our custom for him to pay all the bills and periodically we sit down together and review where we are. Because I am the spreadsheet queen in our house though, creating a budget fell to me. I LOVE creating spreadsheets and learning how to create formulas and such. Which is kind of funny when I think about it because I really am NOT a math person. Anyway, we decided to start at the first of the year, so I'm setting it up now and we will "practice" in December learning how to keep all our receipts, account for which category each purchase goes in, etc.
Have you ever sat down and figured out what you spend your money on? We are a family of five and here's what I have so far in no particular order.
Mortgage, electricity, water/sewer, phone, cable, internet, cell phones, school lunch, van payment, gasoline, vacation fund, Netflix, Youth activities, kids allowance, charitable giving, life insurance, estimated taxes, auto insurance, vehicle maintenance, property tax, medical expenses, home maintenance, college tuition and books, savings, vacation fund, groceries, birthday presents, Christmas presents, yearbooks, clothes, shoes, Scouting. All of these things are on my list, and I'm sure I haven't accounted for everything that will come up.
I shall never look at picking up 5 packs of M&M's for the family just for fun the same way again . . .
Labels: budget, Sheila Siler, spending, xpenses