How to Create a Household Budget: Part 1

Welcome to my 6 part series on creating a family budget.  You can read the entire series or use the handy links below to navigating to a particular lesson.  Thanks for reading Trees Full of Money! If you haven’t already done so, please consider subscribing to my free email newsletter or RSS Feed.

Table of Contents:

Creating a household budget is one of the most important steps in achieving financial independence.  Unfortunately, it is also one of the most difficult steps to take.   Few people appreciate this fact better than me.

When I graduated college in 1999, it didn’t take long before I racked up over $90,000 in non-mortgage consumer debt.  Our spending was out of control and my family and I were on the brink of financial collapse.

Desperate to turn our money issues around, we got our hands on every piece of personal finance literature we could to learn what we were doing wrong.

While each book, magazine, and website offered varying techniques of managing money and “getting ahead”, an overwhelming majority stressed the importance of writing up a household budget each month.

Through trial and error, my family and I adapted the best budgeting ideas we found and created a simple and effective household budgeting system that worked for us.

Two years later we were completely debt free, we had a solid emergency fund, and we were well on our way to saving a down payment for our first home.

In an attempt to “pay it forward”, I would like to share what we learned about developing a simple and effective household budget!   I’ve even created a handy Excel based Budget Spreadsheet to assist with the process.

Each day next week (beginning Monday, March 8th) I will walk  you through the process of how we effectively budgeted for our expenses and maximized the amount of money we had available to pay off debt, save, and eventually help purchase our first home!

I’m very excited about this series of posts and am confident you will find immense value in the content!  If you know of someone who might benefit from this series please email them a link to my site!  If you haven’t already, you may also wish to subscribe to my free email updates or RSS Feed to ensure you don’t miss any great content from Trees Full of Money!

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