This is only a simple example and can be modified to suit your individual situation. But to budget successfully you must include every expense, and if your left over is in the minus, then you shuffle around with the expenses that can be lowered until you have a budget that works for you.  I do a separate budget each payday so that I know exactly what bills I can pay, and if needed we spend less in an area that is not fixed so that the bills that need paying that week get paid.  This budget can be easily set up in a spread sheet and the fields to automatically add and subtract the amounts, this makes it very easy to adjust the budget.  If you need more help with this or would like a working copy of the budget format we use, just click here and end an e-mail.

 

Fortnightly Income                                   Other expenses

 

Work...................................... $300          Food....................................... $150

Family payments...................... $600          Petrol...................................... $30

                                                                  Entertainment........................... $20

Total Income......................... $900          Church.................................... $10

                                                                  Total Expenses..................... $210

 

Bills to pay                                               Money breakdown

 

Mortgage................................ $300          Total income............................ $900

Gas......................................... $100          Less bills................................. $600

Electricity................................ $100          Less expenses......................... $210

Phone...................................... $100

 

Total Bills.............................. $600          Left over................................ $90

 

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