Budgeting your money can be difficult. With so many expenses and random, unexpected purchases, trying to accurately track your finances can make your head spin. In this article, we’ll give you a basic format for tracking your budget so that you can save money.
The first step to creating a budget is to determine a baseline for your income and your expenses. Document everything that you know you normally spend throughout a month, as well as what you can expect to receive monetarily. Note only the expenses and income that you can count on, since they are the basis for your economic standpoint.
After you’ve got your list of incomes and expenses put together, it’s time to determine exactly how your income works. Figure out how much you make per month through your job as well as any other payments that you can count on such as alimony or child support. Next comes the hard part: figuring out all of your expenses. Since you probably have many more different expenses than you do incomes, it’s easy to overlook some expenses that you may partake in. Document them as best you can.
Now what you need to do is weigh your monthly income versus your...
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