Likewise, if you’re saving for a future vacation, back to school shopping, or Christmas then you’ll want to add these savings categories to your budget as well. If you currently have debt payments, you will need to include those in your budget. Haircuts or Other Personal Care Appointments.Below are examples of variable expenses that you will want to include in your budget: For instance, you might budget a different amount for groceries from one paycheck to the next. Whether you’ve just moved out for the first time, found yourself a recently single man or single woman, or you’re a college student, food preparation and basic grocery list shopping can be a challenge. They won’t necessarily match your budget from the month before. Variable expenses include bills that will change from month to month. Streaming services (Hulu, Netflix, Spotify, etc.).
Below are examples of fixed expenses that you’ll want to include in your budget: They may need to cut their expenses next month, unless they receive higher income. Also, the person spent slightly more (6) than they earned for the month. You can expect to pay the same amount on these bills or expenses every single month. Note that in this budget, the actual income and expenses were both below the budget estimate (Monthly Budget Amount). Fixed Expensesįixed expenses include bills that do not change from month to month. If you’re new to budgeting, then you’ll want to be sure that your budget includes fixed expenses, variable expenses, and debt/savings. Before diving into this particular budget example, you should know a few important things about budgeting. It’s a great way to help you learn how to make budgeting doable so that it’s something you can stick with it in the long run.īy looking over a sample budget, you will likely learn tips and tricks to help make budgeting easier for your family. I totally get it! If you’re a visual learner, you probably want to see a real family’s sample budget so that you will be motivated to tackle budgeting once and for all.Īnd because money tends to be something that most friends don’t discuss, a sample budget is important to help you know if you’re on the right track. The idea behind it is that you should allocate 50 of your income toward needs, 30 toward wants, and 20 toward savings and debt repayment. The 50/30/20 budget is a popular budgeting strategy. If you’re new to budgeting, then you’re likely searching the internet looking for a sample budget so that you can truly SEE budgeting in action. 50/30/20 personal monthly budget template.