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Family Budget Worksheet


We are going to breakdown what is in a typical family budget. This worksheet is to help you understand what a budget should cover and help you in future financial planning. First will talk about budgeting then provide you with a printable family budget to practice with.



“Budget” is a word that scares many people. It implies a level of organization that many people feel they aren’t capable of – and beyond that, most people don’t want all their spending to be scripted. But there’s a very simple idea behind the concept of the budget that makes the whole thing less scary. It’s simply a matter of “spending less than you earn.” That’s the base on which the idea of a budget is built – making sure you don’t go beyond what you can afford.

What is a Family Budget?

A family budget is a list of expenses that need to be paid every month. It should include the needs of the family, home, food as well as monthly bills such as electricity, water bill, mortgage, etc. The budget should be based on family goals such as planning ahead for college and/or vacations. It should include setting some money aside for emergencies or unexpected expenses such as car repairs.

What should a budget include?

Budget items should be listed by priority with basic living essentials such as shelter, food, clothing at the top. Next put items the family thinks are important to obtain family goals. At the bottom are luxury items that can be cut out if necessary. It is important to put some money into savings each month, even if it is only a very small amount.
  • rent or mortgage
  • water bill
  • electricity
  • natural gas
  • car payments
  • gasoline
  • car insurance
  • groceries
  • entertainment
  • education and tuition
  • monthly subscriptions and/or memberships
  • charity donations
  • pet supplies
  • credit card payments
  • medical needs
  • clothes and misc health and beauty
Before you can formulate a budget, you need to know all your income and outgoing expenses. If you don’t have a clear idea of how much you earn from all sources and how much you spend each month, it’s impossible to do an accurate budget.

This is why record-keeping is so important. If all your income is from a salary, it’s relatively easy to keep track of your income. If you’re a part-time worker or you earn your money from a business or multiple sources, you need to keep a close eye on this. In the context of teaching kids about this idea, income is fairly simple for younger ones – it’s their allowance. When they get older and start earning money on their own, they’ll need to learn to keep track of their earnings.

Expenses require a lot more attention to track.

Why have a family budget?

A budget helps the family plan for success.  It ensures there is enough money set aside to meet monthly expenses, and lets them know where they can cut back on if they need to make their money stretch a bit further.    

Family Budget Worksheet

Each month you should set a budget and keep track of what you actually do spend. You will be able to see what areas you may need to improve on and how you can rearrange your budget to better suit your family.


Now you can start using our Budget Worksheets.

family budget worksheet

Try using this free budget worksheet for planning.
budget worksheet


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