This page will go over how, and steps to budget & has a template for you to try it on your own!
This page will go over how, and steps to budget & has a template for you to try it on your own!
5 Steps to Budgeting
Step 1
Track & list your sources of income
& the amount of money you earn
Step 2
List your expenses
Organize your expenses into fixed, and variable expenses
Fixed Expenses: expenses that are the same every month
Variable expenses: expenses that change every month (ex. gas, electricity, shopping)
Step 3
Organize your spendings into different categories
Ex. Food, Miscellaneous, Bills, Eating Out
Determine how much you need and want to spend in each category
Step 4
Calculate your total cost in each category and subtract from your total income
Then you get your leftover income
Step 5
Now that you have your left over income
You can either increase the amount you want to spend in each category, spend it on stuff you like, or put it in savings!