Trying a budget on for size...

[mama2James]

Last month we simply tracked all of our spending, this month I used those figures to set up a reasonable budget. This does not include bills and fixed expenses. Just the variable stuff. I know that many people have very detailed formats to work with, but simple is best for us right now. We are a family of three: DH, DS (2 yrs old) and me.

Food: $300 This is $25 per person per week, or so.

Household/HBA: $40 Mostly diaper cost, pretty well stocked on other stuff, plus I am a CVSer so that helps a ton!

Dining out: $50 Half of December's budget since DH's birthday dinner was so spendy.

Clothes: $20 Might not need anything actually, but just in case.

Gas: $120 One vehicle, $30 to fill the tank every week. Might use less.

Entertainment: $30 Movies, books etc. Does not include our Netflix.

Miscellaneous: ? I wasn't sure how I wanted to deal with the other random stuff so I'll track it again, and see how I can categorize it further. Definitely a work in progress...

[madhen]

This is impressive! I need to do something similar. I have been tracking (loosely) for the last ninety days, but I never seem to be able to take all those figures and make a budget with them.

[fixer]

You seem to have a good start on your budget. By tracking your expenses, you will be able to set a realistic budget that will do your family good.

[mama2James]

It's nice to hear that I am on the right track... I know myself well enough to realize that if the budget is too detailed or strict, that I will either obsess over it or give up. The biggest purpose this budget serves for me is to make me think about and be more conscious of my spending.

[MomToTwoBoys]

I had a lot of trouble at the start with a budget. I was making it too complicated for what our family's income structure consisted of. What I did for the variable expenses is I put a tag on it that gave it a general description, then I put it in a section below what the static expenses were.

For example, I would put my total income at the top of the page. I would then list all of the static expenses and put them all in one list. I would then put all of my debts in another section below that because they were still considered to be expenses. Lastly, I put all of the miscellaneous and variable expenses below that. Each category had its own separate designation and I was able to keep from being all confused.

Every budget has the same basic component structure to it: total income, expenses paid and remaining funds. It's the subcomponents that are tailored specifically to each person's household. The same thing that works for one person may not work for the next.

If you're having trouble giving the miscellaneous expenses their own category, then just make it a Miscellaneous section and list all of the expenses that you can't put into their own group into that section.

[homesteadmamma]

Tracking your expenses really opens your eyes to what you're spending. I remember when I did that for 30 days and boy, did I get an eye opener. What we spent then on breakfast cereal and junk food at gas stations blew me away.

You've done a great job.

[Greebo]

Also, bear in mind, getting on a budget is a change in lifestyle and habit. It will take you a few months to get it right. The first month, it's gonna be rough. By month 3, you'll really understand what your budget is telling you and more importantly, what you're telling your budget.

Stick to it!

[Mom23boys]

I think you are going to do great because you are tracking your expenses and can can see where your money is going! Good luck!!