CEO and Founder of Ambareen Musa had the following to say about how to design a perfect household budget :

Decide how you will document your household budget

Whether you opt for a pen and paper budget, an excel spreadsheet one or an e-budget on a budgeting app, pick a style you’re most comfortable with.You can take a print out of a budgeting format of your choice or pen down one based on your specific requirements. Alternatively, you can use a budget template to use in an excel spreadsheet. If you’re using a budgeting app, they usually offer customisable budgets and the app does most of the work for you.

[Related: CFO-level skills to manage your household finances]

Start with your income

You most likely have a single source of income so list that first. In case you’ve taken up some freelance or part-time work on the side, add that to the total income. If you have an uncertain income or one that varies every month, be conservative and enter the amount that seems realistic and not too optimistic.