How do you form a family budget?

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I believe what makes or breaks a budget depends on the purchasing power of the people involved.

For instance, buying an iPhone X would break my budget but won't for someone who earns thousands of dollars a month.

In planning a family budget, you need to make a list of all important needs and their cost values.. Next you arrange them in order of priority.

You then drop up a list of things you're going to spend on based on the available family income.

For some families, going on vacations is very important so they'll always try to create funds for it (perhaps by saving a bit every month).

For some other families, it's something that's done when there's excess money.

Ultimately it depends on each family, their income and their priorities