LOW INCOME BUDGET BEGINNER PRINTABLE BUDGET WORKSHEET DOWNLOAD
Add up all the money your family takes home to find your “Monthly Take-Home Income" ( download Step 2 form). Your family gets money one or more ways-jobs, child support, public assistance, social security, and food stamps. Now look at how much money your family has to work with this month. Think of “Pay Yourself First" as a bill you owe to the family to reach goals. Make savings a regular part of your budget it is a “Must Spend". A simple, effective idea is called “Pay Yourself First." It is setting aside money, savings, before using any of your income for expenses. Saving part of your income is very important to provide for future needs and wishes. You may want to plan for some big purchase, as well as plan for additional savings. In future months, your family should set goals for using money for the whole year. Use an automatic savings method such as direct deposit from each paycheck to save money for family goals.
Some families start planning by setting a goal of saving a few dollars in the first month ( download Step 1 form). One goal that must guide your family is that spending will not be more than income. Solving some of these money needs should be your family's goal for the month. For example, it may be balancing income and spending, paying off an overdue bill, or having money for big expenses that come once or twice yearly. Set Goals (Needs and Wishes)ĭecide what your family's biggest money needs are right now. It will help your family get the things it wants and cut down unplanned spending. A budget or spending plan takes six steps for managing your family's money.
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