Our set of Household Budget Worksheets are designed to help you with the process of setting realistic and achievable goals.
We are also sharing 15 tips to reduce spending! Managing family finance is at the top of the list when it comes to setting goals, especially setting goals for a new year.
My husband and I sit down periodically and either set new goals or review the success of our previous goals. The key is to have goals in order to manage your finances instead of allowing your finances to manage you.
Goal Setting Questions:
- What do we hope we can achieve as a family this year?
- How much debt can we realistically expect to pay off this year?
- Is this the year we will be forced to make major purchases such as an appliance, home repair or even mattresses or furniture. Try to be cognizant and forward thinking to prevent blowing the budget later.
- What does our savings account look like? Can we increase our savings this year?
- Will we be able to plan a vacation?
- What are some ways we could possibly increase our income?
- What are some ways we could possibly decrease our monthly expenses.
It’s easy to get either really excited about the possibilities or depressed upon the realizations. Let your mantra be “If it is to be, it is up to me”
If your expenses exceed your income, there is help.
Check with Consumer Credit Counseling for assistance with things like reducing credit card interest fees and debt consolidation. They are a non profit organization whose purpose is to assist you with regaining control of your finances.
15 Possible Ways To Decrease Family Expenses:
1. Reduce your cable/satellite package. Are you paying for channels you never watch?
2. Turn off your cable/satellite package
3. Drop the insurance on your cell phone. How long have you been paying for it and never used it? Have you read the fine print? It might not pay anyway unless the circumstances are exactly right.
4. Turn off your land line phone, if you also have a cell phone. Why pay for both? If you can save $12 per month, that is $144 per year you can apply towards debt.
5. Do not renew magazine subscriptions and don’t buy any new one’s either!
6. Do not renew club shopping memberships. Yes they are only X dollars and of course we can justify buying in bulk but are you over-spending when you go? Don’t renew your membership. Take a break and see the difference in your spending habits.
7. Learn to garden and grow your own vegetables. At the least, you can grow herbs for cooking. Those will grow on your kitchen counter. Also See: How To Use Milk Jugs For Winter Seed Sewing
8. Unplug any unused electrical devices.
Keeping things plugged in all of the time is convenient but those outlets are pulling electricity. When you add together all of the many things always plugged in, it adds up. I even unplug my Can Opener when not in use. Power Strips are the answer so that you just mash the button once.
9. Quit consuming alcohol. Alcoholic beverages are a major blow to the grocery budget.
10. Install a clothesline.
The dryer is a major source to your energy bill. We don’t want everything dried on the line but at least a few loads per month will reduce the energy bill. Invest $20 on an Indoor Foldable Drying Rack.It will pay for itself in no time.
11. Start Meal Planning. Stop making impulse purchases at the grocery store and start meal planning! It not only saves time but can save money also when meal planning around the grocery store sales. See our Meal Planning Pinterest Board for Ideas.
12. Take stock of your insurance premiums. Although we had been with the same Auto Insurance company for many years, we recently found a more affordable option with a different company for the exact same coverage.
13. Start using the Envelope System for expenses that make the biggest dent in your budget such as groceries and entertainment. Once the cash is gone from the envelope, the spending ceases until it’s time to refill the envelopes.
14. Have ‘No Spending’ days, weekends or weeks where you spend no money at all. Most people can survive one day of no spending but challenge yourself to survive an entire week. No stopping at the store or trips through the drive-thru!
15. Turn off the lights and TV when no one is in the room. You would be surprised how much you can reduce your energy bill by being more conservative when using electricity.
Our Household Budget Worksheets are very basic and easy to use. I prefer to budget the old fashioned way with pen and paper. As a visual learner, I like to see things written down so I can see it and not just imagine it.
The Annual Household Budget is 2 pages of Worksheets and pretty comprehensive with categories. The main purpose of the Annual Worksheets is to see how you did at the end of the year. Get to know your financial habits well enough to tweek the areas that need improvement.
Scroll down for the Free Printable 2 page Annual Household Budgeting Goals Worksheet
The Monthly Household Budget Worksheet allows you to quickly fill in the totals, subtract the difference between Income and Expense and see your bottom line. There is a space at the top for Notes.
Also Grab the Free Printable Monthly Budget Worksheet. Print as many as you need.