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Build a Budget and Make it Last
Learn how to build a budget that puts you firmly in control of your finances.
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To create the right budget for your needs you first should understanding where your money is going. To make sure you account for all your family's expenses, including seasonal and occasional purchases, create a budget worksheet with various categories for all your expenditures. We've put together several common categories to help you get started.
Housing
- Rent or mortgage
- Heating, cooling and electricity
- Public services, such as garbage or sewage
- Maintenance and yard work
- Furnishings
Transportation
- Car payments
- Gasoline and maintenance
- Auto repairs
- Auto insurance
- Public transportation and tolls
Family obligations
- Child care
- Education
- Child support
Entertainment and recreation
- Computer expenses
- Cable, videos and movies
- Hobbies
- Vacations
- Kids activities
- Subscriptions and dues
Health and Medical
- Insurance
- Out-of-pocket medical expenses
- Prescriptions
- Health and fitness fees
Food
- Groceries
- Restaurants and takeout
Pets
- Food
- Grooming
- Vet
Clothing
- Dry cleaning
- Purchases
Investments and savings
- Emergency fund
- 401(k) or IRA
- College fund
- Savings
Debt payments
- Credit cards
- Student loans
- Other loans
Miscellaneous
- Toiletries
- Household items
- Gifts
- Donations
- Grooming products and services (haircuts, makeup)
- Allowance
- Taxes
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