Reply to Earning Well but Drowning in Debt...how to dig out?

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Reply to "Earning Well but Drowning in Debt...how to dig out?"

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[quote=Anonymous]How old are you and your dh?  How old are your kids?

Here is a budget template:

Common Budget Categories

Budget Categories:
BILLS

mortgage/rent
garbage
cable/Netflix
phone
internet
cell phone
electric
gas
water
alarm
life insurance
car insurance
home insurance
daycare/preschool

Total

DEBT

(list smallest to largest by total due, include monthly minimum)
car
student loan
medical bills
(add anything else you have here - credit cards, rent to own, whatever)

Total

MONTHLY SPENDING

auto: fuel
charity
groceries/toiletries
eating out
blow money
entertainment
college savings
retirement savings
newspaper/magazine/online subscription

Total

SINKING FUNDS

(Take the amount you expect to spend in a year, divide by 12 and set aside this amount each month in savings.)
clothing & shoes
haircuts
pet care
gifts, parties
school expenses
household/garden
Christmas/birthdays
home maintenance (1% of house value per year)
car maintenance/tags ($75/car recommended)
medical (rx, copays, contacts, dental)
kids classes/activities
adult classes/activities
tuition
property taxes (if not included in mortgage)
adult classes
travel
AAA, etc.

Total[/quote]

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