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Family Budget Essay

5449 words - 22 pages

Family Budget Basics

It's not always easy to meet our financial obligations each month, and that's where creating a family budget can help. Nearly every day, we have multiple financial demands placed upon us. Whether it is grocery shopping or paying the monthly electric bill, we're faced with family budget decisions all the time.
Family Budgeting

It's sometimes difficult to deal with financial planning matters such as family budgeting. There is one more bill to pay, or a big decision needs to be made on an expensive family vacation. But no matter how people might try to deny it, this is a hard rule of life:

We make decisions all the time that affect our ability to stay out of ...view middle of the document...

Not only do we have an entire series dedicated to household budget basics, but we are going to supplement that information with three additional tools.
Family Budget Worksheets

We have created two more family budget worksheets. The aims of these worksheets are to help you compare your budget to that of an average family. Using information gathered by the Bureau of Labor Statistics, we've put together the following tools to help prepare and guide you through the process of creating a family budget. The nice thing about our budget tools is that you don't need any special software to get started.
Family Budget Calculator

If you want to make a simple comparison of your monthly family expenses, or your annual expenses against that of an average family, then your first stop should be our family budget calculator. This calculator allows you to input your monthly or annual expenses in each of fourteen different areas.

The budget calculator then compares your family's spending pattern, or budget, against those of an average family as measured by a survey conducted by the Bureau of Labor Statistics.

This family budget calculator helps you to figure out how your family expenses compare to an average family's expenses. Using information from the Bureau of Labor Statistics, this calculator allows you to input your monthly or annual expenses in each of 14 different categories, the calculator then figures out the percentage spent in each category and compares your budget to the national average.
Family Budget Calculator

Average Annual or Monthly Income ($)

Family Expenses (Annual or Monthly)

Food ($)
Alcoholic Beverages ($)
Housing ($)
Clothing and Services ($)
Transportation ($)
Family Healthcare ($)
Entertainment ($)
Personal Care Products ($)
Reading ($)
Education ($)
Tobacco / Smoking ($)
Miscellaneous Expenses ($)
Cash Contributions ($)
Personal Insurance and Pensions ($)

Calculator Results:
Family Budget / Expenses Your Family Avg. Family
Alcoholic Beverages
Clothing and Services
Personal Care Products
Tobacco / Smoking
Miscellaneous Expenses
Cash Contributions
Personal Insurance and Pensions
Total Expenses

Total Family Expenses ($)
Total Savings ($)

Calculator Definitions

The variables used in our online calculator are defined in detail below, including how to interpret the results.
Average Annual or Monthly...

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