Make Budgeting Your Life Line For Saving Moneymoney bullseye

If you never seem to have enough money, live pay check to pay check and are drowning in debt you may just need a financial life line. You do not need more financial advice on spending less or skipping the café lattes; you read about that advice all the time and that doesn’t seem to work for you. Maybe what will work is an exercise to illustrate to yourself where your money goes. Before you can stop wasting your money you need to know where its going. How do you do that? Even though budgeting gets bad publicity, it has been proven time and time again that budgeting is the most effective way to train yourself to stop wasting  your money. A budget holds you accountable to yourself.

Budgeting: A New Financial Exercise

To make a budget work for you it must be simple and achievable; if not, you will discontinue using it. Try to include the following items in your next attempt at budgeting and see how much money you spend and where you can tweak your spending.

Your Budget Worksheet

Household Expenses

  • Food
  • Rental or mortgage payment
  • Association payments
  • Utilities: water, gas, electric
  • Garbage, telephone, cable
  • Maintenance: lawn care and/or snow plowing
  • Appliance replacements

Family Expenses

  • Child care
  • Child support
  • Out-or-pocket medical and/or dental expenses
  • Clothing, shoes, accessories
  • Dry cleaning
  • Hair salon and barber expenses
  • Subscriptions
  • Gifts: birthday’s, holidays, anniversaries
  • Club memberships
  • Entertainment
  • Vacations
  • Hobby expenses

Transportation Expenses

  • Car loan or lease payments
  • Gasoline
  • Tune-ups, oil changes, tires and general automobile upkeep
  • Insurance
  • Licenses, city stickers
  • Parking fees, tolls


  • Donations to your church or other religious groups
  • Alumni organizations
  • Charitable organizations such as Red Cross or Salvation Army
  • Legal fees
  • Accounting fees
  • Investment fees
  • Computer fees

So many expenses, so little money to meet them. If you feel overwhelmed by your financial needs, you are not alone. Spending with little accounting of where the money goes can make you feel overwhelmed. Do yourself a favor start living within a budget by using the expenses listed here; you will find out where your money goes so you can stop wasting it.