How Do You Make a Budget?

If you want to win with money, you are going to need a budget. A budget doesn't mean you can't buy what you want, it just means you have a plan for your income. Rich people (who stay rich) have budgets. And you should, too!

HOW TO MAKE A BUDGET

1. Write down all the money you're going to make in a month.

2. Write down every expense you'll have that month.

3. Subtract step 2 from step 1.

4. If the difference is $0, perfect! You've allocated every cent to what you want to use it for (giving, saving, spending - your choices). If the difference isn't $0, adjust until it is.

Follow your plan for your money.

The first few months of trying to live in a budget will be challenging while you try to figure out how much you actually spend on things and decide how much you want to spend on them. That's why most people quit budgeting pretty early. But, experience shows that if you can refine a budget over three months, it will start to make sense and work for you.

If you need help creating and living on a budget so you can win with money, too, I can help. Sign up for Financial Coaching today.