What is your household budget like?

Budget bill: Household budget tips and templates

Author: Mag. Elfi Stampfl
Category: Financing
Date: 07.09.2020

Do you want to take out a (real estate) loan? Then you should definitely draw up a household bill! Roughly speaking, this is quite simply an income and expense account. You can find out here how you can calculate your household budget exactly and where you can find appropriate templates for the household bill.

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Mortgage lending: how are household bills and loans related?

Before a bank grants a loan, it comes as no surprise that it wants to make sure that it can be repaid. For this purpose, the bank requests a budget account: The Difference between income and expenditure enables an assessment of which repayment rates are realistic.

If the household bill is positive and the bank finds that your budget is still enough Room for the repayment installments offers, this is an important step on the road to loan approval. However, if the information is incomplete, a Household flat rate as a yardstick applied. These are average values.

So the more specific you are about your monthly income and expenses Can provide information and the further back your household bill goes, the better. It may sound old-fashioned, but: Create a budget book, be it manually or using an Excel spreadsheet. In this way you can keep track of things yourself, and maybe even discover Ways to save money - and have your household bills to hand if necessary.

What does a private household account include?

Calculating income and expenses, well and good, but what should be taken into account? There would be on the one hand the cost of living and on the other hand, fixed coststhat arise anew every month. Here is an overview of how you are guaranteed not to overlook anything!

What is the cost of living in Austria?

The cost of living is all the expenses you incur in daily life inevitably has. These are essentially the following:

  • Housing costs (rent, accommodation in the case of frequent business trips, etc.)
  • Food / catering
  • dress
  • Health care (drugs, nursing care costs, etc.)
  • Training costs
  • Telecommunication (telephone, television, internet, radio license fees, etc.)
  • Costs for public transport or vehicle ownership

Apart from that, of course, cause too free time activities certain expenses, as well as animal husbandry, donations, membership fees and others items that are not absolutely necessary. Examples of how all of these costs into one Single or multi-person household can be found here, among other things.

How can you calculate the monthly expenses and fixed costs?

The fixed costs include all amounts that are debited again every month. Such continuous spending should be evidenced by bank statements can. The above-mentioned expenses can largely be found in the fixed costs:

  • Rent + operating costs
  • Food
  • power supply
  • Telephone and internet connection
  • Radio license fees and television providers
  • Transportation costs
  • Insurance (life, household, supplementary, car insurance, etc.)
  • Subscriptions (music and streaming services, journals / magazines, etc.)
  • Child support payments (alimony)

Do not forget the monthly installments for existing loans or leases, provided that these are not replaced with the new financing.

As a rule, this is not enough and there are other items that vary from case to case. It has to be there not necessarily about fixed costsHowever, these cost factors should definitely not be ignored. Here is just a small selection:

  • School or kindergarten fees
  • Holidays and travel expenses
  • Sports
  • Clothing (above average need)
  • Culture
  • Hobby cost
  • donate
  • Gifts
  • Service flat rates

As you can see, one List of fixed costs alone does not give a complete picture by far. So count among the fixed costs all other issuesthat are done more or less regularly.

And even if you may not (have to) spend this money at the moment: Calculate a safety buffer! For example, you can convert the leasing rates for a new car or “only” the purchase costs for a washing machine, kitchen equipment, etc. to 12 months, and plan this additional burden firmly.

In spite of loan repayment installments, you are prepared if the dishwasher breaks down, the laptop accidentally falls off the table, craftsmen have to move in, etc. You should also consider Costs like the annual service fee with telephone providers and Co .: Usually these flat rates add up faster than you think ...

The income and expenditure account

With this calculation, the name says it all: You simply deduct all expenses from the collected income. Not much can go wrong with this - as long as you are ruthlessly honest with yourself and the amounts as close as possible to the cent write down exactly. This budget calculator provides assistance for the household budget.

Because the more accurate the bill, the more trustworthy it appears to the bank. If then the difference is positive and you show relevant evidence can, this can only have a positive effect on the loan application! However, they are own statements heavily glossed over and do not at all agree with the lump sum calculation, it can happen that the application is rejected.

Create the household budget: Here's how it works

Enough theory, now it's time to practice! In addition to the above-mentioned collected expenses, you will of course also need yours regular income:

  • the net wage (earned income minus taxes and social security contributions)
  • other income such as child, family or study allowance
  • Rental income etc.
  • Pensions

Again, these points are just a selection; as retaining any other sources of income. Danger: Bear in mind that some subsidies will sooner or later disappear and do the math Bonus income such as Christmas and vacation pay not with one. These funds are often not recognized by credit institutions as current income - and only these are relevant when it comes to a real estate loan, after all over several years is repaid.

Incidentally, there is a reason that you cannot find a concrete example at this point: In each federal state different rent averages apply, etc. An example calculation could therefore not possibly be Conditions in Austria in general reflect.

In addition, the financial situation and the items of expenditure different in every household and guideline values ​​are therefore only useful to a limited extent. In short: you are best advised with your personal income and expenditure account!

Budget bill by template or with Excel?

You don't have to make it unnecessarily difficult for yourself: You can easily do it for the household bill use a template. The S-Bausparkasse, Bawag PSK and Raiffeisen-Bausparkasse, for example, offer examples and Household calculatorin which you can enter your values.

Alternatively, have a Excel table with different categories for example with this template. If you'd rather write down your expenses and income by hand, do one Budget book or notebook of course the same purpose.

Whether with assistance in the form of a template, whether analog or digital - are only important with the household bill two things:

  1. that it exists at all, because it is a key assessment criterion for lending and
  2. that it can be proven absolutely honestly and with bank statements or other documents.

If you take these factors into account and start earlyBy keeping track of all income and expenses, do yourself a great favor on the way to owning your own home - we promise!

Do you need assistance? Infina compares and finds the best housing loan for you with the right bank - independently, transparently and flexibly. for credit comparison

Image sources: Image 1: © WAYHOME studio / Shutterstock.com, Image 2: © Asier Romero / Shutterstock.com, Image 3: © Gearstd / Shutterstock.com, Image 4: © Ivanko80 / Shutterstock.com
You can find legal information about our guides in our consumer protection information.

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About the author: Mag. Elfi Stampfl
Position: Head of Financing Service & Infina Academy

I acquired my expertise in the area of ​​organization and training as the administrative manager of a large cooperative in South Tyrol. Working with agricultural companies was the best school of life for me. I have been in charge of Infina's financing service since 2013. My high quality understanding led to the establishment of the Infina Academy, as it is my aim that our housing finance experts are able to offer the best financial advice in all of Austria. For me personally, honesty and the willingness to do everything for the customer are the top priority.

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