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Track your spending and maximize your savings with a budget.

A budget is a financial plan that estimates income and spending over a specific period of time. Using a budget will help you to live within your means by planning your spending and savings. When you track your expenses and create a household budget, you are taking an important first step towards organizing your finances.

To begin, you should pre-read our Basic Money Management Tips. Then, gather all of your household bills /invoices and grab a calculator!

Review your bills and separate them by the headings that you see on the Household Budget Worksheet. If you are typing your numbers into the worksheet, you’ll notice that the final totals will automatically calculate for you! If you print the worksheet and are writing in the numbers, you’ll need to use a calculator. List your monthly take-home pay and then subtract the total of your budgeted expenses. The sum will give you the total of your actual monthly spendable income.

Repeat this step with your expenses. The sum will give you the total of your actual monthly spendable income. When you know your limit, you can live within it!