Consider the Utility Bills and Overestimate

• When budgeting for utilities--water, electricity, cable/satellite TV and phone--always budget a little more than you typically spend in a month. These bills tend to fluctuate, sometimes by a considerable margin. The prices for these services vary from community to community, and vary largely from state to state, but by always rounding up to the next $20 increment, you can be sure to have enough stashed away to keep your bills paid. For some extra stability, consider putting the funds needed to pay monthly recurring bills, like utility bills, into a separate account so the funds are not inadvertently spent.
  
  

Consider Housing and Related Expenses

• Another monthly bill that must be considered, and ideally segregated along with the utility bills mentioned above, is the monthly mortgage or rent payment. Unlike utility bills, however, this bill is not likely to fluctuate from month to month, so setting aside the precise amount needed to make the housing payment each month is acceptable. Do not forget, though, that related housing expenses must also be considered. Things like home owners association (HOA) fees and landscaping charges, if any, must be factored in to the monthly bills, and requisite expenses like taxes and insurance must be paid as well. Home repairs are another factor that should be included in the budget, with typical amounts ranging from $25 to $100 per month set aside for future repairs.
  
  

Consider Transportation Costs and Related Expenses

• For many people, a monthly car payment is second only to the mortgage or rent in terms of expense. This amount must also be accounted for in the family budget, and families with two or more cars must consider the cost of each vehicle. When it comes to vehicles, the purchase price is only the beginning of the expenses. Automobile insurance may range from $50 to over $200 per vehicle per driver, with even higher rates possible for risky drivers. Fuel costs are also a concern, with some drivers spending between $20 and $100 per week on fuel alone. As with home-related expenses, a small amount for maintenance and repair should also be set aside to cover major repairs (transmission failures, engine repair or air conditioning problems) as well as routine maintenance (oil changes, tire rotations, wiper replacements and fluid fills). To cover maintenance items, set aside between $30 and $50 per month per vehicle.
  
  

Consider the Family's Appearance

• When designing a budget, many families fail to include incidentals like hair cuts ($20 per month per family member) and new clothing ($25 to $100 per month per adult family member). These expenses are typical, however, and must be included in a successful budget. Additional hygiene items like shampoo, toothpaste and deodorant also add approximately $15 per month per family member to the total.
  
  

Consider Medical Costs

• For many families, personal insurance coverages like medical, vision, dental and life insurance constitute an expense comparable to automobile insurance costs. To ensure good health, these funds should be set aside and paid on time. A separate small stipend should also be maintained to cover deductibles and insurance co-payments, as these expenses can pop up at inconvenient times. The federal government has recognized the need many people face for assistance with these expenses, and has established provisions for tax-free accounts individuals can use to pay for medical necessities.
  
  

Consider Nutritional Needs

• Food is another non-negotiable need which every living being must fulfill. Farmers and suburbanites with backyard gardens may take a pass on this expense, but the vast majority must budget some amount for grocery and restaurant expenses. In a typical family, $50 per week per family member should be sufficient for food expenses, though frequent restaurant visits may significantly increase this expense. Low income families, and moderate income families with young children may be able to offset some or all of this expense through state assistance (generally in the form of food stamps), though programs vary from state to state and are intended to provide short-term financial relief.
  
  

Budget for Investments

• Although expenses that are due in the immediate future seem to take priority, planning for the future--including retirement--is every bit as important as paying other bills. Governmental programs like Social Security and 401(k) accounts do help many Americans with defer some investment expenses, though the bulk of the planning and expense for investments still falls on the individual. Since the ideal amount to budget varies from person to person, and depends largely on future goals, a qualified financial adviser may be consulted to help determine the right amount to budget.
  
  

Budget for Education

• Families with children or teenagers, or with adults interested in furthering their own education, must consider budgeting for educational expenses, such as tuition, books, parking and fees. Children in primary and secondary schools may catch a break on tuition, but will likely incur other expenses, such as school supplies and extracurricular activity membership fees. This budget varies widely from student to student and school to school.
  
  

Finally, Budget for Fun

• With all the bills paid, food on the table and the future resting comfortably in the hands of a qualified professional, any remaining income can be safely used for entertainment, dining out, hobbies, philanthropy or practically any other use imaginable.