Keep a record of your expenditures. Record and review monthly income and expenses. Determine how to reduce what you spend for nonessentials. Use this information to establish a family budget. Plan what you will give as Church donations, how much you will save, and what you will spend for food, housing, utilities, transportation, clothing, insurance, and so on. Discipline yourself to live within your budget plan. A budget worksheet is a useful tool to help you with your plan. (All Is Safely Gathered In: Family Finances)
There are so many ways to create a budget. It is a personal choice as to which method you will use. One recommendation that I want to make is that you manage your finances together if you are married. Communication is essential in staying within a budget. Be kind and respectful to each other as you discuss money. Try to understand the other's priorities, needs, and wants before you judge the other's thoughts on budgeting. By making decisions together, both of you will be committed to and more likely to stay within your budget.
I personally use a computer-based budget program. My husband and I discuss and agree to the budget allocations together. By keeping a financial reserve, we've been able to weather several unexpected expenses.
Do you have any budgeting tips that you'd like to share?