Start A Budget: Budgeting is very important to everyone’s life. Budgeting creates a plan for your money! It ensures that you will always have a plan to pay for the things that are important. Another plus side to budgeting is following a spending plan will keep you out of debt.

Follow these three steps:

Step 1: Determine Your Monthly Income

Your monthly income is the first thing that needs to be determined when creating a budget. Monthly income includes all of your sources of income. Make sure you determine your net income, after tax.


Step 2: Determine Your Bills

A mortgage or rent payment, utilities, car payment, and insurance premiums, are all important bills to take note of when creating a budget. These payments are usually fixed and must be paid every month.


Step 3: Determine Other Expenses

Subtract your bills from your net income, ideally you will have money left over. These expenses usually include groceries and gas money. Track your spending to help create an estimate for your other expenses.