After a month of tracking your expenses, you can begin to build a budget. Balancing your budget is a way to take care of obligations and enjoy life. By knowing how much you can spend and save, you will be more secure for the future. Watch the video below before you get started.
Look at your monthly expenses and divide them into categories to start a base for your budget.
Track your expenses for another month. Can you adjust the amounts in your budget so that you can live more comfortably? Can you cut some unnecessary expenses? It's important to make a budget that works so that you can understand where your money is going.
At the end of each month, pay any high interest credit cards or debts that may be getting finance charges. Some months may be more difficult than others, so prepare for them by having an emergency account for unplanned events.
Get started creating a budget with the Beehive's Budget Builder.