Transportation
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Transportation needs to be next on your budget.
You need transportation to get back and forth to work, so you can earn money to pay the rest of your bills.
You can take your kids to school and the doctor when you have reliable transportation. You can get groceries to feed your family.
This is how your budget should look with the 4 essentials at the top.
Regardless if you have a vehicle or rely on public transportation, tally up the total you need for this expense and add it to the fourth line in your budget.
I like to take out the money for gas at the beginning of the month and keep it in an envelope wallet.
That way I won’t accidentally spend the money designated for transportation on other things.
Now that you have the 4 absolute essentials listed first in your budget and paid first, you can get through just about anything.
Take care of your family’s basic needs first and a lot of the stress from a variable income will disappear.
The rest of your bills and expenses need to be listed after the 4 essentials on your budget in a prioritized order.
You can prioritize your expenses easily by asking yourself, “If I only had money for one more thing after my essentials are paid for, what has the highest priority to pay next?”
Continue asking yourself this question until your budget is completely filled out. When you get paid, start by paying the 4 essentials first. Continue down the list paying in order until your check runs out.
You will pick up where the first check left off, when you get your second check, and so on.
Setting up your variable income budget in this manner will guarantee that you will always have enough money for your family to survive.
Up next, 11 ways to reduce household expenses!
Like this post? Check out all the rest in :
- How to Set Up A Budget Series
- Successful Budget Tips Series
Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!