Sample budgets

[meandmine]

I am sure this question has been asked before, but am not sure how to search previous posts ...

I am transitioning from married sahm to part-time woh, divorced mom. My family income is plummeting as a result.

So, I need to get an idea of what folks budget for their various expenses, because what we have been spending as a married single-income family is waaaay over my new income.

I live in an expensive area, but have a low mortgage (for here) to start with ($1500 a month piti), just to give you an idea; a one br rental apt. here would be about $1200.

So, let me know what you budget or where I might find sample budgets for different income levels!

Thanks!

M

[Montana Mom]

Heres a rough version of our budget. Spendable income of about 1500/mo after taxes and child support and etc.

Tithe $150
Savings $300
Housing $400
Education $100
Transportation $300
Food $200
Miscellaneous $100

[mtm]

Dave Ramsey has a couple of spreadsheets on his website, I've used them to get started and then tracked my spending to modify the categories. http://www.daveramsey.com/fpu/home/i...ContentId=3006

[savithny]

If you have access to Microsoft office products, there are some nice family budget templates on the MS site -- if you go into Office and then ask it to search for new document templates on MS.com, it will take you there.

The budget worksheet I use is one I found there. What I like is the ability to put in the numbers I know (total income, mortage, car insurance, childcare, etc) and then have the numbers crunch automatically as I add in the other numbers and see how I can change them to make the whole thing balance.

If you don't have MS Office, you can download Neooffice (or Openoffice - one is Mac only and I can't remember which), and use it to open any MS Office doc - probably including templates from MS.com.

[meandmine]

I will look into the Office budget forms. Thanks.

I am just trying to figure out if anyone actually can live on what I am going to have available. As it is -- what I will receive in child support and temorary spousal support puts us only a few hundred dollars a year over qualifying for reduced price lunches at school. That is sobering. And it will take me awhile to find employment that pays ... well, it is never enough ...

Thanks!

M

[LilMama23]

Oooh thanks for the link to Dave Ramsey's website - I just printed out the sheets and I'm filling them in now!

[Belleweather]

There's also Crown Financial Ministries, which is a very Christian site, but math being non-sectarian, can be used by anyone. They have a calculator on their website that lets you put in your yearly income and it will break down by month what you can afford to spend on various budget categories. It does tend to presume you tithe to your place of worship, but you can just set that number to zero and the math is still good.

[cdahlgrd]

I found out that going from $0 was easier than working from a paycheck.

OK. So $0

$1500 house
___ utilities
____ car payment
_____ car insurance
_____ gas
_____ health insuance
_____ childcare


Then add in the fuzzier items and non necessary items (food, cable, clothing, phone) and you will have an idea of what you need.

[PrettyBird]

Originally Posted by savithny

If you have access to Microsoft office products, there are some nice family budget templates on the MS site -- if you go into Office and then ask it to search for new document templates on MS.com, it will take you there.

The budget worksheet I use is one I found there. What I like is the ability to put in the numbers I know (total income, mortage, car insurance, childcare, etc) and then have the numbers crunch automatically as I add in the other numbers and see how I can change them to make the whole thing balance.

If you don't have MS Office, you can download Neooffice (or Openoffice - one is Mac only and I can't remember which), and use it to open any MS Office doc - probably including templates from MS.com.

Oh cool! Thanks! I have been doing my budget in excel and I had no idea that was there. This is much better than the one I threw together.