Before you plan your first budget, you need a month to prepare. Write down all of your expenses during this period: from buying a loaf of bread to paying for a gym membership.
You can find information about your expenses from your mobile bank app if you paid by card, or paper receipts if you paid by cash. Don’t forget to keep all of your receipts.
In order to write down all of your expenses, you can use special mobile apps, online services, Excel, or Google Docs.
At the end of the month, analyze your expenses and sort them by categories: food, bills, internet, cell phone, beauty products, medications, clothes, shoes, and other. Everyone will have their own list of categories that is necessary to create a monthly budget.

Comments to article «How to Plan an Effective Budget»