![]() ![]() You may like to add a column to your spreadsheet now for your Budget for each item. Now you know exactly what you’re spending each month, you can start to plan your finances ahead of time, knowing exactly what is going in and out of your accounts. Take a little time to see where you might be able to cut some costs, if you need to. Or is it time to reassess your family’s health insurance now that your family has grown? Perhaps you can stop paying for pregnancy cover now, if you feel that you no longer need it. ![]() Perhaps you realise that you’ve been paying into a gym membership for months that you have no immediate plans to use. While you’re looking at your spreadsheet, can you see any areas of potentially reducing costs? ![]() Now you have a clear picture, at a glance, as to what is coming in and out of your accounts each month. This figure can be confronting but take comfort in knowing that this is the very first step in you taking control of your finances. We want to know how much you have left over at the end of each month. Then add another formula to work out the difference between the two. Next, add a formula at the bottom to total your Income and Expenses. You might like to add extra columns such as account numbers and the corresponding bank accounts the money comes and goes from but let’s keep things simple for now. Income (the monthly amount coming to you).Provider (where is the money coming from or going to e.g.Item (what is the income or expense for e.g.Start with four columns – you’ll use these to track both your regular income and expenses throughout the month. ![]() You’ll also have the added benefit of being able to use formulas to total your income and outgoings. You could do this in a paper planner or notebook instead but doing it in a spreadsheet can be much less time-consuming each month. Next, set up a spreadsheet in Excel or Google sheets. The last three months is a good overview to ensure no expenses are missed that may have not fallen into just the last 30 days. You might want to grab your latest receipts for reminders as to what you regularly spend. The list goes on and the easiest way to do this is to print your last three bank statements and work through line by line.ĭon’t forget cash purchases! If you regularly pay for things straight from your wallet, include these too. Who knew that bringing up a baby could add to the list so quickly?įrom one-off purchases to daily, weekly and monthly outgoings, write a list of everything your family has purchased or paid for in the past three months. What are you spending your money on?īills, bills, bills. Write a list of all your regular income such as wages, investment income and benefits. So, grab a notebook and pen and let the budgeting begin! 1. track where your family is spending money.Whether that’s a spreadsheet, online tracker, a simple notebook or something else entirely, finding a way for you to plan and track your family’s spending can make a world of difference to your bank balance and peace of mind. The key to creating a family budget that you’ll stick to is to find a method that’s easy for you. Knowing where you are with your money brings more peace of mind and it’s much better to face it head on, than stick your head in the sand. Rather than let this become overwhelming, we wanted to share some easy ways you can start to get that spending, and your budget, under control. The costs of getting the house ready for your baby, childcare fees and all the other expenses that go with having another human in the house can stack up. Starting a family and the first few years of parenthood has a big impact on your time, energy and bank balance. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |