Budgeting What a Bare Bones Budget Looks Like By Erin Huffstetler Erin Huffstetler Erin Huffstetler is an expert on budgeting whose advice has been featured in The New York Times, Chicago Tribune, Forbes, and many other publications. She founded the My Frugal Home blog, and has also been published by The Spruce, TripSavvy, and Byrdie, among others. Huffstetler has a bachelor's degree from Maryville College. learn about our editorial policies Updated on November 27, 2021 Reviewed by Thomas J. Brock Reviewed by Thomas J. Brock Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, insurance portfolio management, finance and accounting, personal investment and financial planning advice, and development of educational materials about life insurance and annuities. learn about our financial review board Fact checked by Emily Ernsberger Photo: JamieB / Getty Images Has job loss, debt, or another life change left you strapped for cash? If so, a bare-bones budget could be just the thing to get you back on track. What Is a Bare-Bones Budget? A bare-bones budget is a budget that takes your spending down to the minimum required to survive and fulfill your financial obligations. It'll get you through a rough patch, but it won't leave you with a lot of extras in the meantime. What a Bare-Bones Budget Includes HousingUtilitiesGas: Only enough to get you to work and other necessary locationsDebt repayments: No more than the required minimumsFood: Essential grocery items onlyPhone: A basic landlineInsurance payments: Health, auto, life, and disability premiumsEssential family expenses: Daycare, school tuition, alimony, child supportPersonal care: Prescription medications, toiletries, work clothes, haircuts (as needed to look presentable for work) What a Bare-Bones Budget Does Not Include Entertainment spending: Magazine or movie rental subscriptions, concerts, trips to the movie theater, etc.Cable/Satellite TVClothing: Anything beyond what is essentialCell phones and landline extras: Unless a cell phone is vital to your job or safetyRestaurant mealsGas for non-essential tripsVacationsHobby spending: After-school activities, gym memberships, hobbies, etc.Non-essential personal care: Cosmetics, manicures, massages and extra hair services (color, highlights, perms, etc.) Does a bare-bones budget sound like what you need to get caught up? Then, start planning yours now. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit