Day 18 FTJ bootcamp Activity

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Create Your Budget
By now, your budget has practically created itself. To complete your budget, allocate the appropriate amount of money to each category based on the steps above, making sure the right column (expenses) doesn’t exceed the left column (income).

INCOME:
Wages
Overtime
Interest Income
Alimony
Rental Income
Other

EXPENSES:
Mortgage
Insurance
Utilities
Car Payments
Food
Transportation
Clothing
Savings Contributions
Childcare
Recreation and Entertainment
Medical and Dental
Home Maintenance
Vacations
Other

Once you devise your budget, you may find that you’re coming up short of income to cover your expenses. Assign priorities to each thing you’d like to accomplish so that you can make a clear decision about what is most important to you.

Come up with a System to Maintain
The best budgeting system is one that is easy for your family to follow, whether it’s the old-fashioned envelope system or something computer generated. Don’t try to force your family into a system they don’t understand or isn’t easy to use. The biggest key to your success is finding a system that works for you.

Software programs like Quicken or MS Money help make budgeting easy for many families. These programs offer great features that allow you to graph and chart progress; they can even connect with your online banking platforms and help improve your credit score. Chances are there is one pre-loaded on your computer.

If you’re not computer savvy, the envelope system still works for many families today. How it works: Grab an envelope for each category within in your budget. Inside, place the amount of cash that your budget allows each month. Once the cash is gone, you’re done spending.

**Also, I was looking around for a free spreadsheet program and found one at google!**