Question

How can I determine the amount of money I spend on bills?

Answer 1

You have to estimate all your monthly expenses, add them together, and subtract that from your total monthly income after taxes. You should remember some emergency funds and some "fun funds" as well as the basic necessities like food and rent, car insurance, etc.

Answer 2

I would check out quicken or money which tracks these types of expenses

Answer 3

Add all your bills for the month together.

Answer 4

Create a budget. (There's a great book called the Total Money Makeover by Dave Ramsey). Don't forget to write "pay me" at the top of the budget. This goes into savings for hard times. Then list your bills. (an Excel spreadsheet is good for this). Then, if they are more than your income, do some tweaking to make everything add up. Then put the money in envelopes. Cash is more visable on what you're spending. Deposit only the money to cover bills. I do a weekly budget, but how often you get paid is how you should break down your budget.

Answer 5

Make a budget. If you have old electric, phone, rent, car bills for the last three months, get them out and write down how much you spent. Utilities are the hardest because the cost of heating or cooling swings drastically with the seasons. Most utilities will allow you to pay the same amount and calculate that amount for you if you have lived in the same place for 12 months or longer.. . If you do not have these bills, save them for the next three months. Also write down other expenditures like the mornings you stop for Starbucks, eating out, drinks with friends, savings, gas, and other regular expenses.. . Don't think of a budget as limiting your spending, but as a tool to help prioritize your spending.