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Family Budgeting: Addiction and Rehabilitation

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When it comes to budgeting your household finances the hardest thing to overcome is the initial step of admitting there is a problem. Many of us know we spend “a lot” on various purchases such as food, clothing, utilities, cell phones, etc. but to actually sit down and calculate the cold hard truth can be too much to bear for many.

It is my hope that my story will inspire you to make that change and start taking control of your finances and future.

The first challenge to conquer is the act of gathering information. This is the point where you must gather all your bills from the last six-twelve months. The list is long but it is essential to get a realistic view of what you’ve been up to and how to plan ahead. You could be one of the lucky ones that has them all filed up by month, I was like that but I never knew where to start or what to do with this information.

The bills you will require are listed in the form under the downloads section. ( You can download the PDF form in my box widget to help you record all the information needed in order to build an initial budget). There are many categories and sub categories which are relevant not each month, but throughout the year, which we need to take account of so we can plan for and be aware of.

The second challenge is to begin writing down, be it in a notebook, or excel, everything you spend, each and every day, and I do mean each and every day. It is very easy to forget and if you don’t do it, you WILL forget, trust me, I have and so will you.

Once you have all your bills in front of you, sort them by month. Write down how much you paid each month and do this for six months back. Calculate the average and then you will have your average monthly budget.

Congratulations, you have completed the first step on your road to financial recovery. Your next step will follow shortly so stay tuned.

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One response »

  1. Writing down your spending/budget/average costs is very helpful! Good tips.

    Reply

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