This is Day 5 of our month long Financial Literacy Month project. You can continue using my budget or spending plan worksheet for this.
Now for those variable expenses – groceries, eating out, entertainment, gifts, travel etc. I find this the hardest category to come up with a number. The easiest way is to check your bank and credit card statements for the costs to come up with a number. Try looking at three to six months and taking an average to see what you “normally” spend on these kinds of expenses.
Don’t forget to include the things that are paid for in cash – tips, babysitting, coffee, newspapers, lottery (you get the idea).
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