A Mom’s Take blog is a place where people can go to learn about all things related to home and family. Work out a proposed household budget by inputting your sources of income and projected expenses into Kiplinger's exclusive worksheet. A Mom’s Take Family Budget Worksheet includes worksheets for creating a budget and more.
You’ll get access to an Emergency Fund Savings Tracker worksheet, a Bill Pay checklist, and more. If you notice that your expenses are higher than your income, you'll need to make some adjustments.įor instance, let's say your expenses cost $300 more than your monthly net pay. You should review your variable expenses to find ways to cut costs in the amount of $300.
This may include reevaluating how much you spend on groceries, household goods, streaming subscriptions and other flexible costs. It's a good idea to reduce these costs and regularly make adjustments to the amount of money you spend so you can avoid debt. On the other hand, if you have more income leftover after listing your expenses, you can increase certain areas of your budget. Ideally, you'd use this extra money to increase your savings, especially if you don't have an emergency fund.
