There are a few products that I recommend that will help you form a budget and stick to it. So IвЂ™m sure itвЂ™ll help in many areas of your budget as you find you can live on less. This is where I started and I found that I was able to bring our family food budget down significantly. But above all else you must spend ONLy what you bring in, so donвЂ™t tweak it too much that you find yourself overspending again. Start with these guidelines (and thatвЂ™s all they are) and tweak it to fit your needs. While no budget is the same, itвЂ™s important to start somewhere. So you ask, what should you be spending in each category to give yourself an edge in getting out of debt? Here are some percentage guidelines from Dave Ramsey, financial guru: Category Since this is based on what people actually spend and it varies so much by family, location, I wouldnвЂ™t recommend relying on it heavily in forming your family budget categories. So thatвЂ™s the average, based on statistics gathered from the US Bureau of Labor Statistics Consumer Expenditure Survey. Transportation (car payments, gas, service) Utilities (water, power, garbage collection, Housing (mortgage/rent, Real estate taxes) The Category Average Percentages National Average Budget Category Percentages of Net Income Category So every family and individual is different. Studies have shown that lower income families spend a lot more money on food as a percentage of their overall budget that higher income families.

Are you a married couple with no kids? Then youвЂ™ll probably spend more on clothing and entertainment than a single mom with 3 kids. The amount of money depends a lot on living factors like, where in the country you live, if you have small children, if your battling a medical condition, etc.

Track your spending and create percentages off what you already spend. Find Average spending percentages nationally, orДў. The whole purpose of a budget is to set you straight on your spending habits and bring them back into line, right? So thereвЂ™s a couple of ways to go about getting your spending back in line:ДЎ. One of the most difficult things to do when setting up a family budget for the first time is to try and figure out how much you should spend in each category.

Household budget percentage