Home Budget and Life Style Expenditures

Personal Lifestyle Expenditures

This workbook contemplates three household bank accounts. One being a savings account, to which the net pay is deposited, another being the chequing account from which the household expenses are paid, and the third being a second savings account to hold the "Pay Yourself First" funds.

Using the categories set out on the lifestyle sheet, an individual/couple can determine the monthly operating cost of their home. This sheets determines the monthly amount that should be withdrawn from savings to cover normal household operating expenses

Using the categories set out on the Events Sheet the cost of Birthdays, Christmas, Vacations and other annual happenings are costed. The monthly event cost is carried forward by month to the Lifestyle Sheet, and suggests an additional amount that can be withdrawn from savings for that particular month.

At the bottom of the Lifestyle Sheet the total of Lifestyle expenditures and Events costs is matched to the Net Pay of the individual/couple. If there is an excess of expenditures, than the need to revisit the expenditures is required.

Pay Yourself First

This is a simple concept, but tried and true. My father, when I was eighteen, gave me a brochure entitled "Pay Yourself First". Now in my seventies, I wish I paid more attention to its lessons. Wise people move a constant amount form the savings account to a second savings account or in Canada, A Tax Free Savings Account. This should be done on regular a basis. Skipping a few coffee breaks and adding $25 weekly to this account would accumulates to $1,300 a year.


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  • Personal Lifestyle Expenditures

    • To make a copy click on the following link
  • Personal Lifestyle Expenditures

    • Useful Links

    This list of Useful links will help visitors who wish to explore these concepts in greater depth.