One of the best ways to manage money is to create a budget. Not having one could mean that money is spent on trivial things, with nothing to show for it in the long run. A budget does not have to be complex to work—especially if you have never created one before. Here are some steps you can use to create a family budget.
Calculating Total Net Income
The first thing you need to do to create a budget is to know how much total money you bring in each month. This includes all the money you bring home after taxes. It does not include any regular paycheck deductions. If you are self-employed and bring in varying amounts each month, calculate the average monthly income you receive….