Do you ever find yourself wondering where all your money goes at the end of each month?

If so, maybe it's time to take control of your finances and create a budget!

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A budget is simply a plan that helps you manage your money by tracking how much income comes in and how much goes out. It can be broken down into three simple steps: setting goals, tracking expenses, and adjusting as needed.
 
The first step to creating a budget is setting financial goals for yourself. Ask yourself what do I want my money to accomplish? Do I want to save up for something specific or pay off debt? Once you have determined what those goals are, it will give direction when making decisions about spending habits or saving strategies.
 
The second step involves tracking expenses - both necessary ones like rent/mortgage payments as well as discretionary items such as entertainment costs - over an extended period of time (at least one month). This will help identify areas where changes need to be made in order for the desired outcomes from Step 1 above can be achieved more easily. 
 
Lastly, adjust accordingly based on the results obtained from Steps 1 & 2 above; if necessary make cuts here or there in order increase savings rates while still staying within overall goal guidelines set earlier on during this process (i.e., paying off debts faster than originally planned). Also remember that budgets should not feel restrictive but rather liberating because they provide structure which leads towards greater success with achieving long-term financial objectives!  
 
 Creating a budget may seem overwhelming at first but once everything gets going it really isn’t too difficult – just remember these 3 steps: set goals; track expenses; adjust accordingly – and before long managing finances won't even require any thought because everything becomes second nature.

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Try Ramsey Solutions' free EveryDollar app to help you get started.