Time spent developing a budget is time well spent.
A common error people make when they’re planning their household budget is to list unrealistic dollar amounts. If you spend $500 at the grocery store each month, then it isn’t reasonable to list $300 in your budget.
Keep a spending journal for at least two weeks prior to creating a budget for your family and yourself. This will help you establish realistic numbers. A comprehensive budget will not only tell you where the money is going, it can give you a map to tightening expenses. Also, it will allow you to put more money away for your short-term and long-term goals.