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To get started with your budget planner and be on your way to a very simply monthly budget you’re going to need to first list out all of the income that you get every month.

After you’ve listed out all of your income you’re going to need to list out all of your expenses. Some examples are going to be:

• Food
• Rent/Mortgage
• Utilities
• Insurance
• Childcare
• More

Using your bank statements, bills and receipts as your guide you’ll be able to get your amounts. You should try to make room in your budget for an emergency fund so you have some money when unexpected things should pop up. You’ll add up your total net income and subtract your total bills to get your monthly remainder.

With looking at your monthly cash flow is it left as a positive or a negative? Depending on where your finances are at you can identify those areas that you can increase your income or reduce some things in your life that you’re overspending on.

To reduce your debt to clear up some more money are there things that you have subscriptions for that you’re really not using? Do you get those magazines that you’re barely even paging through or a gym membership that you never use? If you go through your budget line by line you’re going to find a lot of things that you’re spending money on that you really don’t need or can reduce.

As you keep going keep track of your progress. Track your expenses through just a pad and pen or using Excel. Make sure that you do your best to stick to the budget you’ve outlined out. If you find yourself falling out of this you need to make sure that you take corrective action and put yourself back in line right away.

One of the final things to remember is to not beat yourself up as you’re likely to fail at some point. Going through a budget and making it work takes work and practice. The more you do it the better you’re going to get. The important thing is when you fail to right the ship, keep trying; you’re going to get it.