If you have little children, then you know how expensive daycare can be in America, it has been said that child care takes up more of family income than housing, food, or healthcare. Record every dollar you also use in the routine veterinary visits, and in paying someone else to care for them when you are away. You can easily overlook the amount of money you spend on buying food and toys for your pets or taking them to the groomers. Also, take note of any monthly payments you are making towards a Health Savings Account. Such commitments include car payments, mortgages, credit card fees, child support, alimony, and student loan payments. While some can put the monthly payments they are making in the section they relate to, such as mortgage under home expenses, you can choose to include all your obligations under this section. Moreover, monthly rent for equipment should fall under the due section in your template. The same goes for membership fees to a gym or any professional organization.

Those magazines you have been enjoying for several months still cost you some money, and it should be factored in your budget.

For as long it is not a necessity, it is entertainment, so the dollars you spend on a date night, movies, vacations, or a visit to Disneyland should go there. Just because you are trying to save money does not mean you have to forego all the fun hence the entertainment expenses. Consequently, list the amount you use on groceries, salon, toiletries, laundry, and cosmetics in this section. When not using your vehicle, then remember to put down the ridesharing costs, cab fare, and other public transportation expenses.Īs for health expenses, take into account the regular out-of-pocket costs such as prescription drugs or over-the-counter medicine, payroll deductions for dental, health and vision coverage, as well as dentist and doctor bills.Īnything you spend money on for your personal care falls under daily living expenses. Therefore concerning transportation expenses, if you own a car, then you should list any fuel costs, vehicle maintenance and repair expenses, and insurance premiums. You might have noticed that most people when searching for a house, look for one that is close to their place of work because they know that transportation costs can dent their pockets. Such expenses comprise rent, utility bills, maintenance costs that include landscaping and gardening, and repair expenses such as fixing the plumbing system. You can also refer to them as household expenses because they are the cost of ensuring your house runs smoothly. You should, therefore, ensure that your template has the categories outlined below:

There is no specific rule that we must follow for excellent budgeting there are certain elements that will make any budget template ideal.

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