Create Your Family Budget in Under 30 Minutes

Make Your Family Spending Budget
Print this helpful chart to easily create your family budget in under 30 minutes. You'll quickly determine your optimal household spending. Use your budget to enjoy today and create a bright future for your family.

1. Add all your sources of income including wages, alimony, child support, interest income, pensions, etc. to determine your Gross Monthly Income.

   Gross Monthly Income: $_________________________

2. Multiply your gross monthly income (above) by the suggested percent for your household type then write the amount in the column marked "Your Budget".
   
   

   Monthly Expenses	Single - No Children	Single - with Children	Married with Children	Your Budget
   Housing	20 - 29%	20 - 29%	20 - 29%	$
   Utilities & Maintenance	5 - 7%	6 - 8%	6 - 8%	$
   Taxes: Federal, State, FICA	12 - 17%	12 - 14%	10 - 12%	$
   Savings	3- 5%	4 - 6%	3 - 5%	$
   Food	6 - 8%	8 - 10%	8 - 10%	$
   Obligations	10 - 15%	10 - 12%	8 - 10%	$
   Recreation	10 - 12%	8 - 10%	8 - 10%	$
   Transportation (gas)	3 - 4%	2 - 3%	3 - 5%	$
   Car Insurance	5%	3 - 4%	3%	$
   Clothing, personal	4%	5 - 6%	5 - 6%	$
   Gifts	4%	5%	6%	$
   Medical Expenses	1 -2%	2 - 3%	3 - 4%	$
   Child Care/Education	1 -2%	1 -2%	7 -8%	$
   Cushion/Extra's	1 -2%	2%	1%	$
   Total Monthly Budget (should be equal to or less than Gross Monthly Income)				$

* Example:
A single person with 1 child - Monthly Income: $1775.00 before taxes.
29% of income for housing is $516.00

3. If your Total Monthly Budget is greater than your Gross Monthly Income simply decrease your budget amounts in some areas until your Monthly Budget Total is less than or equal to your Gross Monthly Income.
   
   
4. Recalculate your budget when your income or family size changes.

[14 Signs of a Credit Crisis] [FAQ's] [Links to Useful Websites]
[What Is Mutual Self Help Housing] [Useful Info Main Page]