Financial Help
10 Simple Steps to Create a Personal Budget
Creating a personal budget is key to taking control of your finances. In this guide, we break down the process into 10 simple, actionable steps: Calculate your after-tax income to know exactly what you have to work with.
List your fixed expenses, such as rent and utilities, to cover essentials.
Track variable expenses like dining out and entertainment.
Set financial goals—both short-term and long-term.
Allocate money to savings, aiming for at least 20% of your income.
Prioritize debt payments to reduce financial strain.
Track your spending regularly using budgeting apps.
Adjust as needed when your income or expenses change.
Reward yourself with a budgeted amount for enjoyment.
Review your budget monthly to stay on track. By following these steps, you’ll create a manageable, customized budget that helps you meet your financial goals and maintain balance in your spending.
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