How to Create a Budget and Stick to It?
How to Create a Budget and Stick to It A budget is a plan for how you will spend your money. It can help you track your income and expenses, so you can make sure you are not spending more than you are earning. A budget can also help you save money for your goals. Create a Budget There are a few different ways to create a budget. You can use a budgeting app, a spreadsheet, or even just a piece of paper. To get started, you will need to gather your income and expense information. Income Your income is the money you bring in each month. This can include your salary, wages, tips, interest, and dividends. Expenses Your expenses are the money you spend each month. This can include housing, food, transportation, utilities, debt payments, and savings. Once you have gathered your income and expense information, you can start to create your budget. There are a few different methods you can use, such as the 50/30/20 rule or the envelope system. 50/30/20 Rule The 50/30/20 rule is a simple way to