Quick Budget Plan for Single Moms

Quick Budget Plan for Single Moms
This entry is part 14 of 16 in the series Single Mom Budgeting

I cannot express enough the ease of creating a budget if you have the right tools. For some it’s frustrating and complicated.

I have also taken the simplistic approach. I don’t have time for complicated and convoluted spreadsheets. Ugghhh!!!

So I take a sheet of paper and list all my income. Then I list my major household expenses. I add them all up and get the total. I take the total and subtract it from my income total to see what I have left. Very simple.

If I’m over or in the red, meaning more expenses than income I make adjustments or find a way to make more income. Working overtime helped or doing a side gig.

Getting Fancy with Budgets

A few years ago I learned that a budget should or could be created using percentages. Each household category gets a percentage of your income.

That is too much for my mommy brain, but I did come across a budget calulator tool by Crown Financial ministries.

It’s a simple, yet handy calculator that will give you a picture of what your budget could look like no matter how much income you have.

Just put in your yearly income and it will tell you how much you should budget for each category. Simple. Easy. Quick.

Of course you can adjust things but it’s a great way to get started.

Download 79 Money Tips eBook

Get 79 Money Tips to Turbo Charge Your Finances plus free email updates.

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Series Navigation<< 3 Tips to Staying Debt FreeDisney on a Single Mom Budget, Part 1 >>

Submit a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>