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• Components of a Family Budget


  • Food
  • Utilities
  • Shelter
  • Emergency fund
  • Household operations
  • Medical and dental care
  • Clothing
  • Past and recreation
  • Social and moral obligations
  • Investing
• Food

  Plan the meals ahead of time to project the budget for groceries, takeout food, or dining out
• Utilities

  Paid monthly and include electricity, water, telephone, and home cable bills. Allocate a fixed amount monthly based on average bills
• Shelter

  If rented, allocate a fixed monthly budget. For those owning a house, allocate for amortization, home repair, home improvement, and real estate tax
• Emergency fund

  Set aside money for unexpected expenses or future needs
• Household operations

  Allocate a budget for a family member staying at home or a house helper for supplies, food, and home repairs
• Medical and dental care

  Allocate for medical and dental appointments, medicines, vaccinations, especially for children
• Clothing

  Allocate sufficient income for clothing based on family members' needs, status, and development
• Past and recreation

  Include activities for relaxation and entertainment such as hobbies, trips, and vacations
• Social and moral obligations

  Include celebrations and events like birthdays, anniversaries, among others
• Investing

  Study investment options, set goals, participate in outreach activities, and make a plan for education and good health