Ever built a budget for the month and realized later that you forgot about something so obvious? Been there! If you’re like me, you had an extensive meeting with your spouse to make sure every detail was cared for, but yet something came up that you probably should’ve expected and should’ve discussed in that “extensive meeting” and just didn’t.
Well here’s a list of basic things to be sure to add to your budget so you can build your best budget possible. It works for our family of 2, but I think it will be a decent guideline for any size of family (food is still food and bills are still bills, right?). I’ll start with the obvious and move to the less common.
Side note 1: we use a free app called Every Dollar for our budget, and we love it!!
Side note 2: get out your calendar for the month so you have an idea of the extra items like birthdays you’ll be spending money on!
Side note 3: for extra tips on saving money on your bills, check this out!
Here we go! (and if you use Every Dollar, you can choose to have your budget copied from last month, create an entirely new one, or edit your last month’s budget for the coming month…so no need to remember these items each time!)
2. Food – groceries and restaurants (will you be having company at all this month?)
6. Phone bill
7. Car insurance
8. Car maintenance/savings for car maintenance
9. Clothing – dry cleaning or needed items
10. Entertainment (Don’t forget your friends asked you to go to that show with them!)
11. Gifts (Whose birthday or baby shower is coming up?)
12. Emergency fund (for a flat tire, sudden death in the family, etc; $1,000 is a good goal for this!)
- Short term funds (for things like computers and vacations that need more than one month’s budget to purchase)
- Long term savings (for a house, a new car, bigger emergencies; Dave Ramsey suggest saving 3-6 months worth of income for the bigger unexpected things)
- Retirement (don’t rely only on the government, please!)
14. Life insurance
15. Health/health insurance
17. Home maintenance
18. Homeowners/Renters insurance
Bet you didn’t think the list could be so long for “basics!” Let me know if I missed something!
Photo credit: Pictures of Money | Cropped