Your home budget
Even if you haven’t had a budget deficit so far, it’s a good idea to start systematically recording what you spend, and at the end of each month compare your income with your expenditure.
And this is how your home budget will be created.
Note: Writing down your income is not just an art for art. You will soon find out that by analyzing individual spending categories you will be able to eliminate these unnecessary expenses and teach you how to save money.
This is how you create your home budget
1) In a thick notebook you put a few pages for each month of the year.
2) Enter the income of the household members under the month’s name and add it to yourself.
3). On the following pages you scrupulously write down the expenses, dividing them into categories.
4) Sum up your expenses.
Example of home budget
Husband’s salary 2500 EUR
Wife’s salary 1800 EUR
Scholarship for a son of 300 EUR
Total: 4600 EUR
Rent and water 550 EUR
Electricity 100 EUR
Telephone and Internet 120 EUR
Mobile phones 200 EUR
Total: 970 EUR
Shopping at home 1600
Lunches at work, on the city 400 EUR
Total: 2000 EUR
Car 450 EUR
Tickets 250 EUR
Total: 700 EUR
Clothing and footwear
Shoes for wife 150 EUR
Blouse for daughter 60 EUR
Total: 210 EUR
Cleaning products and cosmetics
Detergents, vacuum cleaner bags 80 EUR
Cosmetics 120 EUR
Total: 200 EUR
Dentist 150 EUR
Medicines 100 EUR
Total: 250 EUR
All expenses: 4330 EUR
How to save by modifying the above home budget?
1) You can save water, choose a cheaper tariff plan for your phone and give up one mobile phone subscription in favour of a pre-paid mobile phone. Here you can earn EUR 50-70.
2) Restrict eating outside the home. This saves at least EUR 100.
3) The cost of petrol indicates a lot of trips for short distances (e.g. to a workplace that is close to home) or to a shop. You can, for example, partially replace your car with a bicycle. This saves at least EUR 150.
Together you can gain an additional 300 EUR.