Thie cost of living has skyrocketed in the last three years under the current administration and it is not improving as we speak. If you do not have a family budget start one now. It is so easy now for a family to find that the dollars will not stretch for a full month of expenses if you do not control the family spending. Groceries have gone up in price so much that families have to decide what kind of meat they can afford not necessarily what kind of meat they would prefer. As percentage of income food costs have risen over 30% in the past three years even looking for the lower priced items. Gasoline is up over $2.00 a gallon, than it was before Biden took office. Eating out is up over 35% more than three years ago. I used to take my wife to breakfast for under $20 for both of us, now it cost me over $35 with tip at IHOP. Steaks are up percentagewise even more. Haircuts have risen in price also. With all these variables you need to prepare a family budget now.

Below is a framework that might be helpful for you to prepare your family budget.

Start with Income:
His Income
Her Income
Outside Income
(A) Total Income

Fixed Expenses
House Payment
Car Payments
Gasoline
Utilities
Electric
Gas
Water
Total
Medical Expenses
Internet Expense
Cable TV Expense
TV subscriptions like Netflix
Other Fixed Expenses
(B) Total Fixed Expenses

Variable Expenses
Groceries
Eating Out
Personal Expenses Him
Personal Expenses Her
Personal Expenses Children
Pet Expense
Medical Expense
Home Improvements
Car Repairs and Licensing
Other Variable Expenses
(C)Total Variable Expenses

Compute your family funds remaining by Subtracting the Fixed Expenses (B) and Variable Expenses (C) from your total Family Income (A)
The result is the income available for savings, investing, and emergencies. If you do not have a positive amount remaining you need to adjust your family budget downward until you are satisfied with the distribution of the available funds.

GOOD LUCK WITH PREPARING A FAMILY BUDGET THAT WILL WORK FOR YOUR FAMILY.