Basic Budgeting

Here are the basics of how-to-budgeting:
1. List all of your expenses. ALL of them. (including any money left over that could go into savings!)

2. Categorize your expenses into general categories. For example: food, gas, entertainment, repairs, rent/mortgage, cell phone, auto, school, medical bills...

3. Put dates next to items that have when payments are due.

4. Don't forget once a year expenses. Like airfare, purchasing a laptop, replacing the timing belt in your car. Take these expenses and divide the cost by 12 and list each month that cost. For example: a new laptop may cost $2,000 after all is said and done (programs, accessories). Divide your $2,000 by 12 and add $167 to each month.

5. Give yourself a budget, or spending max next to each category.

6. Keep track of each time you spend money. This includes every pack of gum, fill up on gas, chapstick purchase. The little purchases do add up.