Make a Budget in 6 Simple Steps
- Gather every financial statement you can (bank statements, investment accounts, recent utility bills).
- Record all of your sources of income.
- Create a list of monthly expenses.
- Break expenses into 2 categories: fixed and variable.
- Total your monthly income and monthly expenses.
- Make adjustments to expenses: If you have accurately identified and listed all of your expenses, the ultimate goal would be to have your income and expense columns to be equal.
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