#Budget percentages for household how to#

You may spend too much in one category and too little in the next. Once that’s done, spend the next 3 months tracking all of your expenses and figure out if the amounts you’ve set make sense. Figure out what you’ve been spending money on and then adjust those amounts to something reasonable for your budget. One way to determine your budget percentages is to look into your bank accounts and credit cards and calculate an average for all of your spending. Our post called, “How to create a monthly budget in less than 20 minutes” will guide you through the process and provide you with a FREE budgeting spreadsheet to make things easier. If not, stop what you’re doing and create a budget right now. Create a monthly budgetīy this point, you should already have your monthly budget in place. These budget percentages are just suggestions though, you’ll have to determine what works for you and what doesn’t.

You don’t have to do that though because we want to give you some quick tips to get you started. We had the same problem when we started but we figured it out through trial and error.

#Budget percentages for household how to#

Unfortunately, when you’re new to budgeting, you may not know how to determine budget percentages that will make sense for your financial situation. Creating a budget should be one of the first steps you take when you’re working towards financial freedom.