 TITLE: How to Budget for a Family CONTENT: Establish a Long-Term Budgeting Strategy\n----------------------------------------\nHow you choose to track your budget is up to you, but make sure whatever strategy you pick is sustainable for the long term. You can use an online budgeting tool like Quicken or Mint, or you can track all your finances in an Excel spreadsheet or even with a pen and paper. Budgeting can take some time to show results, so finding an accounting strategy you'll stick with is vital to success.\nOnce you've chosen a method, your budget should contain the following core elements:\n1.  Money coming in (all income sources)\n2.  Money going out (all bills)\n3.  Plans for saving and paying off debt\n4.  Allowance for emergencies and discretionary spending\n5.  Allocation for personal and family goals\nWhile each family's budget will differ, accounting for all five core spending categories will ensure you cover your financial bases and still have room for extra expenses as they arise.\nThe basics of budgeting are simple: First, calculate the money coming in each month; then calculate how much you have to pay for all your bills. Subtract your total monthly bills from your total monthly income, and distribute whatever you have left over to other spending categories, such as additional debt payment, savings, emergency fund, entertainment and so on. Make sure to clearly track how much you save in each category every month; that way you'll be able to spend according to what you have and not deviate from your budget. END