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How to Create a Household Budget 💰



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today we're going to do another bullet

journaling video but the topic of the

video is not actually bullet journaling

you can do this with or without a bullet

journal on your computer in an Excel

document wherever you want but the topic

of the video is making a household

budget so I will be sharing with you

guys how I made our household budgets

just simply how I was made for those of

you who know how to make a household

budget this is going to be very basic

information but that is the entire point

of this video because I know that it's

very common that people have absolutely

no idea what they spend their money on

at the end of the month they have no

money left from their salary and they

had no idea where it went and that's not

a thing that we like we like knowing

where the money goes so that we can plan

for the expenses that we have obviously

I'm not going to write down the exact

expenses of everything that we pay each

month because in my opinion that's

private but I have calculated

approximate percentages so out of the

hundred percent of our income I will

write down how much or how many percent

we spend on each topic that I will take

up in this video so let's begin if you

want to make it really easy for yourself

then I recommend doing it in an Excel

document because then you can just click

and click and click and it was like

summarize everything for you and you

don't have to like it with a calculator

adding things up you might want to start

with writing down your income every

month if you're more than one person in

the household make sure you either write

down your combined income or if you have

a separate economy you write down both

of your incomes and in some households

people pay the percentage of the

expenses that's equal to their percent

of income if that makes sense so if for

example I make 70% of our income and

Sony makes 30% of our income then he

will only pay 30% of our combined

expenses and I will pay 70% of those but

that is completely up to you how you

want to do it but this is a good place

to write down all the different incomes

you have be a salary or child support

whatever you have to put on the income

part of your budget so let's say that we

have 100% income this obviously doesn't

make sense for you guys to write because

you obviously write down your own income

and for this example of the video I will

put the percentages instead now it's

time to start looking at the expenses

and the way I have done it since we have

a few household expenses that we pay

annually some of them I have left out

because the sums are so small that when

divided into month it's irrelevant for

our budget and some of them that are a

bit larger I split into monthly expenses

just to get an idea of how much of our

income goes towards that so I have

started off by putting down all our

joint expenses and then I have made one

separate part for my personal expenses

and one separate part for Sony's

personal expenses and then also a part

for savings let's start with the

combined expenses if you live alone

obviously all of your expenses will be

your personal expenses rent of course

and in some places I'm sure you pay for

water maybe you might pay for

electricity all that stuff in some place

electricity and water and all of that is

combined it's the rent we click pay rent

and and way

so there then we've got Wi-Fi so we pay

for its we don't we pay a thing for like

the right to have a TV I don't know I

don't feel like explaining it even in my

Swedish viewers feel like explaining it

all your theater shams go ahead it's

like a fee you have to pay to get the

public service channels that you

automatically get if you have a TV not

interesting but that's a fee we have to

pay so we pay that and we pay for the

other channels that we get for our TV

but next part I'm going to write down

food and for a lot of people maybe you

have no idea what you spend on food each

month and I really really recommend at

least for like two three months to save

all the receipts if nothing else you

will get a great idea of how much you

spend on food Sony and I since we moved

in together have saved every single

receipt every month of course after

every month we throw them out we don't

save them forever

but we save the receipt every month and

then just split all the food in half and

pay half each so we know exactly how

much we spend on food every month which

is why it's very easy to include that in

the budget of the fixed cost because we

almost never go over this amount if your

food costs vary like a few 10 20 30 50

80 dollars every month it's going to be

difficult to budget for it but you're

going to have to set a budget and maybe

if you set a really big budget and you

don't use all that money they'll go into

savings or something else so just try to

get an idea of how much you spend on

food to be able to include it in the

budget and last but not least we have in

sure for Rascal and

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for our hope so the percentages that we

spend on these things are as follows

rest for the 8% of our income goes to

rent how exciting the thing is that when

I made my budget I left out income and

just calculated all of our expenses and

then I wrote down the income to cover

all the expenses period because my

income varies so extremely much from

month-to-month

I could never tell you how much I make

it each month because it varies so much

so I just made sure that my income is

exactly matched to my expenses or the

family's expenses and then anything that

exceeds that income every month which is

thus usually go straight into saving and

as I'll show you later I have a few

different accounts for saving some that

are fixed each month and one account

where I put everything else so let's

just keep on here electricity 3% Wi-Fi

2% boxer and radio TV is 1% each for

food we spend 16 percent of our income

on food and insurance for rascal we got

3% and for home insurance we pay those

annually and not monthly or quarterly so

I kind of left that out of the budget

but it's a good one to include if you do

pay for home insurance which you

probably should now we're going to

individual expenses the reason I'm doing

this relatively detailed is just to give

you guys an idea of all the like random

costs that you have that you might not

think of even if it costs you something

every month I have of course my phone

bill 2% of my income my Spotify account

1% and then I got my gym membership

which is also 1%

all of these 1% some to percents

obviously they are not the same amount

of money but the Excel document that I

have used have kind of rounded up there

are so many decimals since we're talking

pretty small sums here so this gives you

kind of an overview of it and then I

have my student loans that I'm paying

back which is 4% monthly and then of

course next flicks which I share with my

friend and her family you can have four

accounts on each Netflix account so we

only pay a small sum annually for that

as well which is why I did not include

it in my monthly budget and then we've

got Sonny he's also got his phone bill

and that is 1% so his phone bill is 1%

while mine is 2%

he has gym as well which is 1%

he's got rehearsal space and and the

rehearsal space is of course also one

person and then we've got a sonic

allowance and that might sound really

weird to a lot of you since he's a grown

person but the thing is that I make most

of our income right now since Sonny is

working on a huge channel and he hasn't

really reached a level where he can make

a lot of money off of it so I'm paying

for most of the expenses and instead of

me always have to like allow him to do

things I'll allow him to go have dinner

with his friends or I'll allow him to

purchase some merch he wants instead of

me always having to allow him to do

things we have set up and an allowance

for him and now my favorite part savings

I saved my money like most of my money I

save in funds but at the moment I also

save some on my bank account with no

interest because I want to have very

easy access

to it but the long-term saving I do in

my funds so we've got pension savings

since I am my own boss I run my own

company know what else is going to do

the pension saving for me in Sweden when

you work for a company they will do all

of that but you also should save for

your pension yourself which is what I am

doing we also have a buffer account

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which is basically if rascal gets sick

or if either of us gets sick or anything

like that we really need to have a

buffer account everyone should have a

buffer account because you never know

what happens in life and if you're stuck

with no money because you've spent all

the money you've made then you're pretty

[ __ ] so it's always good to have a

buffer account and of course we have a

fun account as well where I just save

money that I can do whatever I want

without feeling guilty for spending

money that should have gone into the

buffer of pension or any other of my

expenses and here we got two percents

for pension three percent for buffer and

three percent for fun I'm not sure if

this becomes hundred percent when you

calculate it all together but as I said

the decimals are not in there they have

kind of rounded up around down depending

on the actual number but this is what

our household budget looks like and it

really isn't more difficult than this to

kind of really get an idea of where does

all the money go because it's so

important to not be there at the end of

the month not having enough money to pay

your bills and then just be like ah [ __ ]

I can't pay my bills I don't know what

I've spent my money on this is crap and

of course you can change these saving

accounts to whatever you want maybe

you're saving for a car maybe you're

saying for a trip or a house even and I

just have to make sure that you have

that savings plan in the budget for

every month because you can't sit at

home go spending money on stuff you have

no idea what you're spending it

and then be there and be like I really

want to buy a car but I don't have money

for it and I haven't been saving because

I've just spent money on stuff without

knowing what I'm doing I really

recommend you taking the time to make a

household budget because it's a great

way to keep track of everything and it's

also a very nice feeling to know that

you can pay for everything every month

and it's really nice also to have

savings because you feel you feel very

grown-up and responsible and safe having

a buffer account means that you are safe

and you can get out of the [ __ ] up

situations that life can put you in so

that's my video on household budgets if

you have any questions of course you can

comment them below so if you have liked

this video I absolutely love doing these

kinds of things

I love economy I love savings I love

budgets everything like that because

it's feels so good to know everything

about the cash that you make and smell

on the next time guys have a super good

one I will see you later