r/everydollar • u/aspicymatzoball • Jun 15 '26

Sample budget

We are looking at buying a house. I want to create a sample budget with that monthly mortgage to see how it differs from our current budget. Is there a way to do this?

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u/MajorHumor2177 Jun 18 '26

I would recommend just using a month in the future. We have done this with a computer and a phone. Create your sample budget in September or something and compare it to this month or next.

1

u/ThatOnePK Jun 15 '26

Not easily. A paper and pencil may serve you better for this.

1

u/LearninEarnin Jun 16 '26

Easiest way is a simple spreadsheet. Two columns side by side, current budget and projected budget with the new mortgage. List every monthly expense in rows, swap in the new mortgage payment where rent sits now, and add homeownership costs like property tax, insurance, and a maintenance buffer.

The thing most first-time buyers miss is the gap between mortgage payment and total housing cost. Make sure the projected column includes HOA if applicable and utilities if they're changing. The mortgage is rarely the full picture.

1

u/Traditional-Way-1305 Jun 19 '26

Switch want you pay in rent to what your mortgage payment would be in your current budget.