A budget is a spending plan.
It tells your money where to go before you spend it. A budget puts you in control of your money so that you don’t wonder where it went.
In its simplest form, there are a few steps to creating a budget.
You enter the amount of income that you are about to or have just received.
Then you list where you are going to spend that money. That may be food, rent or mortgage, utilities and other recipients of your hard earned income.
Subtract the total expenses from the income. The remainder should be zero or a positive number that can be put into savings.
It is that simple. Your budget or spending plan is not that complicated. Visit russbellmoneycoach.com/blog/ for help creating, or fine tuning your budget.