- The first step to creating budget is figuring out your after tax income. You should know how much your paycheck will be after any deductions.
- The next step should be listing out all of your basic necessities including bills, groceries and any other regular expense that you need.
- After setting aside money for your necessities you can set aside money for luxuries that you may spend throughout the week, say a coffee in the morning or a dinner out.
- Finally any money that is left over should be set aside for savings to be used at a later time.