Budget of a young family

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A family budget is a plan for your

household's incoming and outgoing money
over a certain period of time, such as a
month or year. For example, you may aim
for certain dollar amounts or percentages
of monthly income to go toward various
expenses, like groceries, as well as
saving, investing and paying off debt.

PARENTING TIPS
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7 Easy steps for creating a Family

Budget

1. Establish a goal. Ask yourself what you want

to get out of making a family budget. ...
2. Choose a digital budgeting tool. ...
3. Gather your financial information. ...
4. Organize into categories. ...
5. Calculate the information. ...
6. Look for ways to decrease spending. ...
7. Review your budget monthly
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what i a good budget

for a young couple

80/20 Rule. This strategy might benefit

you if you're new to budgeting as a
couple. For your joint income, you can
spend 80% on needs and wants and
commit 20% to savings. This 20%
could go toward emergency funds,
college savings, retirement savings or
debt reduction.
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Follow the steps
below as you set up
your own,
personalized budget:
1. Make a list of your values. Write down what
matters to you and then put your values in
order.
2. Set your goals.
3. Determine your income. ...
4. Determine your expenses. ...
5. Create your budget. ...
6. Pay yourself first! ...
7. Be careful with credit cards. ...
8. Check back periodically.
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What is budget in
your own words

A budget is a spending plan based on

income and expenses. In other words, it's
an estimate of how much money you'll
make and spend over a certain period of
time, such as a month or year. (Or, if
you're accounting for the incoming and
outgoing money of everyone in your
household, that's a family budget.)
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THANK YOU
FOR ATTENTION