The header photo was taken from my deck south of Fairplay, Colorado looking at Buffalo Peak.

My most recent fiction novel was released by Kindle Direct Publishing this week. I am offering the book free on Kindle as a promotion for two days this week May 11th and 12th. Just go to the link at the bottom of this post for “Single Male In Search of Single Female” click on it and you can obtain the book free on May 11th and 12th only. I do request that you write a review of the book when you have completed reading it by going to the “Review” link on the site for the book. Thanks for registering as a user of Easy Personal Budget. If you do not have a Kindle or Kindle on your PC , there is a free download at Amazon Kindle that allows you to read Kindle books on your PC and to shop in the Kindle Store.

IT IS NOT TOO LATE TO START A BUDGET FOR 2016
One third of the year 2016 has passed. How is your family budget working for you? If you do not have a family budget it is not too late to start. There is no sin in setting up an eight month budget for the balance of 2016.

The major steps in setting up a family personal budget are INCOME DETERMINATION. Begin by estimating the amount of income items you are currently receiving monthly and post them by month to a worksheet so you can show variations in the monthly amount if that is case. Then total the monthly expected income and show a TOTAL MONTHLY BUDGETED INCOME

Then list the RECURRING MONTHLY PAYMENTS for example mortgage payments, car payments , rent payments , loan payments , etc. Then list the recurring monthly expense items such as electricity, gas for heat, gasoline, water, trash collection, TV and Internet, tithing and giving to charities , etc.

Then list the items to accrue savings in case of emergency for medical expenses, auto repairs, home repairs, etc. Then list the annual items and show them under the month column they are to be paid. For example, property taxes, auto licenses, auto insurance, home owners insurance, etc.

Then list the items going into reserve accounts for example a vacation fund, new car fund, home improvement fund, education fund, etc.

Then list contributions to retirement accounts and investments

Then have a line for the amount you can put into savings monthly after you have posted the items above. The amount going to savings can vary from month to month depending on what is available after covering the budgeted expense items and availability of income.

AFTER CONSIDERING THAT ABOVE ITEMS DO YOU HAVE EXTRA MONEY OVER EXPENSES AND BUDGETED SAVINGS OR DO YOU HAVE MORE EXPENSES THAN INCOME? IF YOU HAVE MORE INCOME THAN EXPENSES AND BUDGETED SAVINGS, THEN MAYBE YOU SHOULD SAVE MORE? OR MAYBE YOU CAN AFFORD TO BUY A MAJOR ITEM YOU HAVE BEEN DEFERRING UNTIL THAT TIME WHEN YOU HAD THE MONEY AVAILABLE TO PAY FOR IT.

TESTIMONIES FROM PEOPLE THAT REGULARLY BUDGET ARE GENERALLY VERY POSITIVE

Many people have expressed joy and satisfaction that they take the time to budget and discuss with the family where their finances stand. On the other side of the fence those people that have never had a budget and now are ready to get stared tell horror stories of not knowing where they stand financially now and throughout most of their working life. I have had many subscribers to this blog tell me how much it has helped them and their children. Some have said the children encourage them to follow through on the family budget and take a real interest in it. It is truly very good training for children starting at a relatively young age and continuing until they leave home.

BANKS AND FINANCIAL INSTITUTIONS USUALLY WANT TO SEE A BALANCE SHEET BEFORE LENDING MONEY TO A PERSON OR BUSINESS
If the family has a budget with current financial information , it should be no problem to transfer figures from the family budget to the bank forms. The lender will be impressed if your family can readily provide the financial information they are requesting prior to approving a loan.

THE FAMILY BUDGET AS A BASE TO DETERMINE IF YOU OR YOUR WIFE SHOULD CONSIDER A JOB CHANGE
If the family knows where they stand financially , they can project into the future what a job change might do to their family budget. If you do not know where you stand and you do not project the effect of a new job on your ability to pay bills, the job change might be a mistake. On the other side of the coin you might reject a job offer that in fact would be financially more beneficial because you do not know where your finances stand.

THESE ARE JUST A FEW CONSIDERATIONS THAT FAMILIES NEED TO CONSIDER THAT DEMONSTRATE THAT A FAMILY PERSONAL BUDGET CAN CONTRIBUTE TO YOUR SUCCESS.

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