Create a Budget

A budget helps you manage your cash flow by comparing your income to your expenses. To create your budget:

1. List all your income sources.
2. Record all your monthly expenses, using receipts.
   • Fixed costs like rent, insurance and car payments.
   • Expenses that vary, like utilities, food and household items.
3. Subtract all your monthly expenses from your monthly after-tax income.
   • If you earn much more than you spend, consider paying down debt and saving more.
   • If you spend more than you earn each month, cut back on your spending and/or increase your income, either by finding a job that pays more or by working additional jobs or hours.

Use the budget calculator.