Tips for Budgeting in Milpitas CA
From the French word meaning "purse" a budget lists a family's financial goals. It outlines planned expenses and incomes. To keep within budget would mean breaking even on expenses and income. A well planned budget ends up with savings.
An Example of a Monthly Budget:
Gross Income: Husband - $6500.00
Wife - $2750.00
Total Income: $9,250.00
Expenses: Mortgage - $2400.00
Car - $250.00
Insurance - $275.00
Utilities - $385.00
Broadband (TV & Internet) - $222.50
Gas - $260.00
Total Expense $3,792.50
Net Income $5,457.50
Total expense should be no more than 41% of your gross income as shown in the example above.
Free online budget worksheet and resources:
Here's a way to see if you have a handle on your monthly budget:
Expenses can get out of hand and be more than you estimate. Food and entertainment costs can be so underestimated. Place all your food and entertainment reciepts in an envelope. Save a month's worth. On the front of the envelope, jot down an estimate of what you guess your monthly food and entertainment expenses would be. After a month tally up all your receipts. You may be surprised wth your results.
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