This total gets adjusted each year to accommodate any changes in our car registration (since we haven’t bought any new cars recently, our registration goes down each year) Entertainment $40 Auto Maintenance $100 These purchases include new makeup, shampoo, vitamins, hair tools, etc. Father’s Day/Mother’s Day/Anniversary $15 Toiletries $40 I like to keep $500 in our account to cover any expenses related to taxes, accounting, or legal issues. And my husband is ok with a frugal gift for his birthday □ Accountant/Legal/Taxes $40 This money will be used to purchase gifts for my child and his friends (including any fancy dinner out). We organize our own birthday party at the park to keep costs down. Real Expenses Family Birthdays $20 (Down with the pandemic) When the money is spent, they have to wait until next month for new goodies. We use this money whenever they want a treat at the store, a new toy, or a Happy Meal. This is, in effect, my kid’s allowance ($5/week). Yours might look different if you take public transportation. Since my husband drives to work, we have to budget quite a bit of money for our transportation budget. (Somewhat down with the pandemic and lower gas costs last year) ![]() We dine out or get take-out about once a week with an average order of around $40-50. This is especially helpful when you are trying to decide if you’re spending too much on food for your family’s size. Daily Living Expenses Groceries (Family of 3): $680Īre you unsure of how much money you should be budgeting each month for your food bill? The USDA has created a reference for you to find national averages. I don’t think we realized the financial commitment we made when we adopted our dog. Pets are expensive (and they’re even more costly when they’re 200-pound St. Last month alone, we spent $400 on vet bills, new dog food, and a blood test for a sick dog. We started it when our kid was born, so we have the full 18 years to contribute. We have determined that we want to help our child pay for college, so we set aside a small amount of money each month into a 529 account. Notice, we don’t have cable either, so we’re not paying double fees! Kid’s 529s $50 Did you know that the average American spends $650 per year on digital subscriptions? If we needed to save for something, this category would be one of the first to go since we don’t need Disney+ to live (contrary to what my 5-year-old may think). But I’m not so sure about keeping them around. Our family loves all of the digital subscriptions, including Disney+, Netflix, and Spotify. If you value donating to specific charities, set an amount in your budget so that you can be a consistent benefactor! Digital Subscriptions $54.61 Mortgage $1217 Utilities (sewer, trash, water, energy) $200 Internet $60 Car Loan $391 Home & Car Insurance $185 Charitable Donations $10 Many of these items’ costs will vary on where you live, your home’s size and age, etc. Here are our expenses that need no explanation. Some of our expenses may look different than yours, and that’s okay! If you’re unsure of what to budget for a specific category, simply search “Average cost of (whatever you’re looking for) in (Your state).” Total = $3,870 Home Expenses Note about costs: We live in a suburb of a metropolitan area with a high cost of living. My budget is merely a jumping-off point for you to begin thinking about how to create your own budget! Your budget will, of course, look different because you have different priorities. One thing: you might disagree with how I’ve prioritized our money… that’s okay! It’s not your money ). ![]()
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