STEPS IN THE preparations of a FAMILY BUDGET

1- LIST ALL THE COMMODITIES AND SERVICES NEEDED AND WANTED BY FAMILY MEMBERS THROUGHOUT THE PROPOSED BUDGET PERIOD

-FOOD

Expenses in purchase of raw materials like vegetables, fruits, milk, meat, fish, eggs etc.It also includes cost of prepared food like jams, pickles, tinned foods, frozen foods, special foods for infants etc

-CLOTHING

These may include garments ,shoes or other accessories need by the family.Cost of fabric and tailoring charges also included in this
.

-HOUSING

It includes charges on rented house, repair charges and annual maintenance charges

-EDUCATION

All expense in connection with school or college education such as tuition fee,cost of books, stationary and other equipments

-TRANSPORT

Expense due to use of public or personal transport,cost of fuel,servicing and maintenance,repairs,road tax insurances etc

-PERSONAL EXPENSES

Purchase of toiletries laundry and dry cleaning charges ,medical bills etc

-OPERATING OR HOUSEHOLD EXPENSES

All the miscellaneous expenses for running the house,electricity bill,water,fuel,telephone bills,etc

-SAVINGS

Money that has to be set aside for savings and investments and for other schemes of deposits

-MISCELLANEOUS

Items that not fit into other categories like expense on news paper and magazines,repair and maintenance of household equipments