Home Budgeting
Planning a Family or Personal Budget How to create your own home budget. Understand and Estimate your Current Spending Patterns • Track your monthly spending and try to account for every Rupee spent. • For the next month or two, think very closely about how your money is spent. • Every time you buy something, pay a bill, or dispose of any of your money, make a strong mental note of what it is being spent on. • Better, at the end of each day write down list of expenditure and for what it was used on a piece of paper. • Try to think critically about each Rupee spent and whether or not it was a required expense. Create your current budget. • Now it's time to create your Home or Personal Budget. • To do this, you need to quantify all of the spending patterns. • You need a budget to check if you are on the right track to savings and investments. • A budget will also keep a ( % ) tab on your daily spending habits. • So be sure not to overlook small or routine expenses. • Be realistic