budget, budget for the family, budgeting, easy steps to budget for the family, how to budget for the family

5 Easy Steps to Budget for the Family

“How do you budget for your family?”

That is the usual question me and my friends asked from each other every time we had a chance to meet.

Yes, teachers also do the budget. I used to teach Basic Economics at the University. And our senior colleagues shared with us their budgeting experiences.

Why do we need to budget?

Because we need to live within our means.

How do you budget?

Here’s 5 easy steps!

1. How much money do you have in a month?List down the amount of money you earn for the month.

If you are married and you have joint money, include also the income of your spouse/partner.

Some couples have separate money.

They have division of financial responsibilities.

One pays for the house rent or mortgage, and the partner pays for the power and water bills.

He pays for the groceries, she pays for the children’s school expenses.

It depends on the arrangement of the couples.

But anyway, in your list you must include all sources of income.

2. Make a list of all the expenses for the month.

3. Categorize where you need to put your money into based on your needs.


4. Decide how many percent of your money goes per category.

5. In each category, you must have a separate envelope or container with the budget money in it.

Here’s a list of possible needs of a family in a month.

Choose which are applicable to your family.

5.1 Food

5.2 Bills

( ) electricity

( ) water

( ) credit card/s

( ) house payment/rent

( ) lot/land payment

( ) car payment5.3. Education/School Expenses

( ) tuition fee

( ) school allowances

( ) school supplies

( ) miscellaneous expenses

( ) field trip

( ) intramurals uniforms

( ) girl scout uniform, t-shirt, camping

( ) school projects, materials for classroom activities etc.

( ) apron in cooking classes

( ) sticks for the puzzle

( ) costume for the play

( ) threads for sewing class

( ) fish or meat and other ingredients for the cooking class

( ) cloth for pajama making

( ) shirt for the printing designs

( ) make up, nail polish for Technology and Livelihood Education class5.4 Medicine/Health.

Keep it in tact always in case of emergency.

5.5 Phones. Laptop. Printer.

If not, then the cost of renting at the computer shop which is on a per hour basis, printing is on a per page basis.

5.6 Recreation

However tight the budget is, once in a while the family needs to go out and to a new environment.It could be as simple as having a picnic at the park with some chips, finger foods and sodas or juices.

Or hiking at the farm.

Bring vegetables to grill or corn or hotdogs.

5.7 Charity or tithes

I know a friend who is very religiously doing her tithes.

5.8 Savings

A friend has a shoe box where she puts a part of her tips daily.

Or open a savings account.


2 thoughts on “5 Easy Steps to Budget for the Family”

  1. Bonjour,
    Depuis plus de 5 ans, j’ai mis e’ place un budget par semaine pour l’alimentation. C’est génial parce que depuis lors, je fais des économies. Je regarde plus ce que j’achète.
    Bonne journée

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