Sample Monthly Budget for Adults & Families
Making a Budget
Making a budget is the most important step in controlling your money.
A budget allows you to track your Income (the money that you have) and your Expenses (the
money you spend). By writing down your monthly income and expenses, you can see how
much money you expect to have for the month and plan for how much you can spend.
The First Rule of Budgeting
The first rule of budgeting is simple: Spend less than you earn!
If you earn $2,000 a month from your job, $50 from Interest on your savings account, then
your income for the month is $2,050. Now you know that you have to spend less than $2,050
for the entire month.
Structuring Your Budget
1: Determine your Income.
Estimate all “incoming” money, including Salary/Bonus/Commissions, Interest, Child
Support, and other sources.
2. Estimate Required Expenses.
Required expenses include taxes and bills. Required bills include mortgage/rent, utilities,
insurance, car maintenance, gas, gr