How to Create a Budget with a Monthly Budget Planner

How would you like to create a budget? It can seem like climbing Mount Everest if you don't know how. There's no question that you'll be in more control of your money if you know how to create a budget. Use these 3 steps below to make your own monthly budget planner.

1. Know how much you make each month.

Create a list of all of your income sources. Be sure to include jobs in which you earn extra money on a regular basis. This could be part time jobs along with your regular job. Add everything up and jot it down.

2. Figure out your expenses every month.

You'll want to make sure that you list clothing, food, gas, utilities, and housing costs. If you save your receipts for one month, you'll get an accurate idea of where your money is going and how much these expenses are each month.

3. Do you make enough to pay all of your monthly bills?

Figure out if you make enough each month to pay your bills. If not, then consider cutting back in certain areas. Most people can save quite a bit of money in the areas of eating out and entertainment. Look for other cheaper alternatives.

Also, see if there are any monthly services that you subscribe to that you really don't use. For example, do you really watch all of those T.V. channels? Are there a lot of unread magazines piling up at your house from subscriptions that you don't use? You might be surprise with how much extra money that you can save.

After you figure out your income and expenses, then it will be easier to create a budget.

Next, try to estimate what your expenses will be next month. If you don't know, save your receipts and bills for 30 days to get some real numbers of how much your expenses are each month. Perfecting a budget takes time and is an ongoing learning experience. Just stick with this plan for about 3 months and you'll be in charge of your money. Isn't that the way life should be?

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