Family Budget Control Demo Project

Rabio comes with an online demo available 24/7 and free for everyone who wants to check the basics of how it works.

Right now the demo includes projects which are easy to understand and operate. In this post, we are going to check on the Family Expenses demo project.

family expenses budget cost control

What is a Family Budget?

A family budget is a financial structure (or else a system) that presents how a family’s money (or else the family’s income) is distributed between different expenses, like house expenses, car costs credit card payments or any other.

Family’s money is distributed into various categories, including income and expenses. When to trying to control a family budget your goal is to spend less than you earn.

On Quora there is also an interesting answer on question “What is family budget?“.
See it here.

It is all about family control

The aim of this demo project is to keep a family’s yearly budget under control. For sure this demo is not a real case scenario as this is not possible. After all, every family is a unique financial case. What we hope this demo can do is to give anyone who is interested in Rabio‘s recording and reporting capabilities.

A yearly budget is based on a cost breakdown structure based on centers and categories of expenses.

Centers Breakdown

The breakdown structure of centers is based on groups of centers and centers like:

  • Houses
    • City House
    • Beach House
    • Lake House
  • Vehicles
    • Car-1
    • Car-2
    • Car-3
    • Car-4
    • Scooter
  • Family Members
    • Husband
    • Wife
    • Son
    • Daughter

Categories of Expenses Breakdown

Expenses are organized on group of categories and categories like:

  • House Expenses
    • Electricity
    • Water
  • Vehicle Expenses
    • Petrol
    • Diesel
  • Family Expenses
    • Cinema
    • Restaurant
    • Holidays

Budget

A family budget is the basis of the project. Budget is based on a yearly projection period and it will be used for comparison with the costs.

Costs

The recording of all family costs is very easy on Rabio. All costs are recorded using the cost breakdown structure. In any case, a center and a category will be used to record any kind of family costs.

The Rabio result

At any moment Rabio will produce detailed and summary reports that give an accurate view of the budget and costs and their comparison results.

Online Demo

Check out the available demo following the demo instructions here.