Page 33 - How To Set Up a Family Budget The Easy Way

the budgeting process itself. All the process steps to get your through the journey and to
the resulting document, tool or magic numbers!

 Distinguish between fixed, variable and discretional expenditure(s)
 Identify and categorize all expenses, breaking them into categories and line items,
time-frames, other detailed sub-classifications and clustering;
 How to set-up housekeeping budgets and what to consider

 Identifying hidden expenses
 Identifying areas of discretionary spending, habits and perhaps over-spending risk areas
 Setting up expenditure recording systems

 Decide on the best way suitable for you and your family to monitor what you spend
 Set-up a very basic Home/Personal Budget Filing System
 Any calculations, formulas and budget principles you think will help you maximize and
optimize your cash flow and money-management

Another great way to learn about family budgeting is to ask around and to learn from others.
With the internet at our disposal, there are numerous reliable sources of practical, tried, tested
and true tips, strategies and techniques to follow. We selected but a few to provide a sample.

Never underestimate the power of a shared experience!

Sometimes exploring a financial activity like family budgeting conceptually is not enough.
Getting a practical perspective, with some hands-on tips can be more meaningful that a close
description or analysis.

There are lots of definitions, opinions and numerous books have been written on the subject of
budgeting for families, by families and others. In our information-age, knowledge is power these

days and lots of parents and professionals share and voice their opinions openly on the internet,
sharing and growing the body of knowledge. We selected a few examples to encourage others to
explore these at their leisure as well.

Here are ELEVEN more practical suggestions and tips from online users posted on the internet
on family budgeting:

1. Keep a record book as well as your bankbook
It takes time and requires a lot of self-discipline. Start each month with the balance and enter
every payment, etc in advance, in the form of a calendar. It works well for most people due to the

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