How to Create a Budget

By Amy McManus, Lauren and James Bird

What is a budget?

A budget is a limit to how much money you spend. You have to keep track of how much money you spend and make. If you go over budget, you will be in debt. Keeping track of your money is important.
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What goes into a budget?

Everything you buy or make goes into your budget. When you get your paycheck, the first thing you should do is add the money to where you are keeping track of your money. When you pay for something or buy something you have to subtract the money from your budget.

How to keep a budget

Step 1.
See how much income you are getting and how much insurance and taxes pay

Step 2.
Figure out what your needs are

Step 3.
Learn what your variable expenses are

Step 4.
Prioritize- figure our what you need and what you don't need and if you can lower the wants

Step 5.
Follow your budget

Step 6.
Keep track of how much money you are making and spending