Budgeting is a useful tool to help you reach your financial goals. A budget helps you manage spending, avoid debt and save money. Let’s explore how to build that budget.

Start with the basics

A budget helps you determine how much money to set aside for regular expenses like rent or mortgage, bills, groceries and entertainment. As you plan your budget, think back to last year. Identify trends in your expenses and unexpected costs. Was there a change in your take-home pay? Are there new bills for medical needs or education? Understanding your past financial habits can help you make the proper adjustments for this year’s budget.

Create your budget

This involves calculating your take-home pay, gathering credit card and bank statements and receipts for the past few months, organizing expens

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