Building Your Budget

Once you determine your goals and monthly income and expenses, you're ready to start building a budget.

Here's how to start:

Determine your monthly budget.

After listing your monthly expenses, project what your expenses will be for the next month. Then, track what you actually spend. Compare your expenses to your income. Are you making enough to cover them?

Put extra money toward your goals.

If you have room in your budget, figure out how much you can save and then treat your savings as a monthly bill that you must pay.

Evaluate where you are.

After a few months, you'll want to evaluate how you're doing. Do you need to cut back because your expenses are too high? Or is there room in your budget for additional savings?

For more information on how to save, visit our Savings tips

Budgeting: it's all about control.

Taking the time to budget today can help you save money in the long run and gain greater control of your money.