The steps to follow in creating a budget

[itorai]

This is a completely logical approach.

1. Determine your income: As the first step in creating a budget, you have to know your total income in terms of what you can afford. Do not write a budget that is more than your income and end up not achieving anything at the end because your income determines your budget, so let's take note of our income first. This income might include your weekly,monthly, or even yearly income, as well as side hustles and any other source of income.

I think this is the most important factor determining the type and method of creating a budget. On this basis, I would like to delve a little deeper into this point, considering that the size of income versus the size of expenditures can determine the size of the budget that can be created at a given time. This requires a basic condition, which is the presence of surplus income to enter into saving (according to a precise plan) and the size of the budget that can be obtained be clear.
This leads us to consider that the more revenues exceed expenses, the easier it becomes to plan to create a budget. It becomes easier if we adopt what investors call “diversifying sources of income,” because often someone who has one source of income (even if it is fixed) cannot balance it with expenses in order to be able to develop a plan to create a budget.

I agree with your point about determining income, I see that determining income is the key to realistic budget limits. While the comparison between income and expenses I think can play an important role to determine income. However, if we want it to be even better, we have to separate the prioritized expenses and even record them every time there is an expense so that they can be controlled.

You would really be needing to determine about your income because if you dont know on how to make out some budget which is really that basing up on what you do earn then you would really be most likely on getting overdropped as you would really be having those kind of spendings on which you are really that going beyond those line. This is where people do usually mess up on the time that they would really be spending up
more which is something that it is really that out of their income range because if you are really just that sensible on doing such stuff then you wont really be that making yourself that able to mess up when it comes to budgeting. It is really just that there are people who are really that too careless when making up some budgets on which some of them wont really be caring about.

People would usually be making out some adjustments on the time that they would really be experiencing some hardship on which this is really that common. For us to survive into these non  stop
economical increases and other stuffs then this is where you would really be putting up importance and relevance in speaking about budgeting and allocation.

I agree with your opinion it is very important I think in determining income and making a realistic budget, separating and recording expenses that are prioritized is very important and even helps in controlling finances better, I admit that if there are mistakes in the budget can cause problems for finances even to serious, I think this needs to be followed up and find solutions to overcome unwanted economic difficulties

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[junder]

2. Identify where your money is going: The second step in creating a budget is to track your expenses. This is also very important because, without knowing how you usually spend your money, you will end up writing a budget that you can’t even stick to. More over, expenses include housing, transportation, food, entertainment, gambling, and so on. When you have identified where your money is going, you can categorise it into groups. For instance, clothing, house rent fees, and others should all be in the category of housing. If that is done, you have definitely achieved your second step in creating a budget.

Having a budget and sticking to it, helps you to plan, prioritize, avoid overspending and achieve your financial goal. Number two on the list is very important. When running a budget you should be able to tell where most of your expenses are heading to. For instance, If you discover that the operational cost of running a business is more than what you're getting out of it, then you've to decide whether you've to pull the plug and try something else.

It's true that we have to be able to avoid excessive spending, such as buying things we shouldn't buy, because in my opinion, many people have the habit of buying things they shouldn't buy. This is because they prioritize desires that must be achieved, and don't think too much about basic needs that they should have fulfilled, in this way they tend to experience expenses that shouldn't occur because they follow the feeling of what they want.

Apart from that, in my opinion, recording expenses can be done so that we can see where the money we spend is going, because there are people who have large incomes but within a short period of time their income has decreased a lot and as a result it makes them confused because they don't record expenses. This needs to be paid attention to because in my opinion this one thing can also have a big impact if it is done well, I myself have felt it where I have experienced the thing I am telling you about and it turns out that not only I, including many people in my environment, and in Finally, I decided to record my expenses so that I could monitor them well. As a result, with this action, my finances were well controlled.

[Ben Barubal]

This is a completely logical approach.

1. Determine your income: As the first step in creating a budget, you have to know your total income in terms of what you can afford. Do not write a budget that is more than your income and end up not achieving anything at the end because your income determines your budget, so let's take note of our income first. This income might include your weekly,monthly, or even yearly income, as well as side hustles and any other source of income.

I think this is the most important factor determining the type and method of creating a budget. On this basis, I would like to delve a little deeper into this point, considering that the size of income versus the size of expenditures can determine the size of the budget that can be created at a given time. This requires a basic condition, which is the presence of surplus income to enter into saving (according to a precise plan) and the size of the budget that can be obtained be clear.
This leads us to consider that the more revenues exceed expenses, the easier it becomes to plan to create a budget. It becomes easier if we adopt what investors call “diversifying sources of income,” because often someone who has one source of income (even if it is fixed) cannot balance it with expenses in order to be able to develop a plan to create a budget.

I agree with your point about determining income, I see that determining income is the key to realistic budget limits. While the comparison between income and expenses I think can play an important role to determine income. However, if we want it to be even better, we have to separate the prioritized expenses and even record them every time there is an expense so that they can be controlled.

You would really be needing to determine about your income because if you dont know on how to make out some budget which is really that basing up on what you do earn then you would really be most likely on getting overdropped as you would really be having those kind of spendings on which you are really that going beyond those line. This is where people do usually mess up on the time that they would really be spending up
more which is something that it is really that out of their income range because if you are really just that sensible on doing such stuff then you wont really be that making yourself that able to mess up when it comes to budgeting. It is really just that there are people who are really that too careless when making up some budgets on which some of them wont really be caring about.

People would usually be making out some adjustments on the time that they would really be experiencing some hardship on which this is really that common. For us to survive into these non  stop
economical increases and other stuffs then this is where you would really be putting up importance and relevance in speaking about budgeting and allocation.

I agree with your opinion it is very important I think in determining income and making a realistic budget, separating and recording expenses that are prioritized is very important and even helps in controlling finances better, I admit that if there are mistakes in the budget can cause problems for finances even to serious, I think this needs to be followed up and find solutions to overcome unwanted economic difficulties

  Of course, it's just common sense that if we don't have a source of income, how can we budget money? So in today's time, our only source of income is not really enough. That's why others, even if it's a small business, will do as long as they know within themselves that they can grow it eventually.

  and this bitcoin trading or crypto trading is also one of the additional sources of income we can use, as long as we know how to use it correctly in our lives and even in the future.

[Lanatsa]

2. Identify where your money is going: The second step in creating a budget is to track your expenses. This is also very important because, without knowing how you usually spend your money, you will end up writing a budget that you can’t even stick to. More over, expenses include housing, transportation, food, entertainment, gambling, and so on. When you have identified where your money is going, you can categorise it into groups. For instance, clothing, house rent fees, and others should all be in the category of housing. If that is done, you have definitely achieved your second step in creating a budget.

Having a budget and sticking to it, helps you to plan, prioritize, avoid overspending and achieve your financial goal. Number two on the list is very important. When running a budget you should be able to tell where most of your expenses are heading to. For instance, If you discover that the operational cost of running a business is more than what you're getting out of it, then you've to decide whether you've to pull the plug and try something else.

It's true that we have to be able to avoid excessive spending, such as buying things we shouldn't buy, because in my opinion, many people have the habit of buying things they shouldn't buy. This is because they prioritize desires that must be achieved, and don't think too much about basic needs that they should have fulfilled, in this way they tend to experience expenses that shouldn't occur because they follow the feeling of what they want.

Apart from that, in my opinion, recording expenses can be done so that we can see where the money we spend is going, because there are people who have large incomes but within a short period of time their income has decreased a lot and as a result it makes them confused because they don't record expenses. This needs to be paid attention to because in my opinion this one thing can also have a big impact if it is done well, I myself have felt it where I have experienced the thing I am telling you about and it turns out that not only I, including many people in my environment, and in Finally, I decided to record my expenses so that I could monitor them well. As a result, with this action, my finances were well controlled.

Dont buy on something which isnt a priority or something not that relevant on day to day living but since we are just human beings and have their own interest and likings or desires then sometimes it cant really be just avoided for you on not to have those kind of wishes and sentiments on where you would really be that definitely be forgetting into sticking into your budget. Its not bad on doing it for sometimes but it would be better that you should be avoid it if you are really that on strict budget. There's nothing wrong to buy or do such things if you could really be able to afford on doing so, but if you are really just that earning sufficient for your day to day living then it wont really be that ideal on taking up such step. So it would be always best that you should really be that mindful about on the steps that you are making.

Budgeting might sounds easy but doing the actual thing would really be hard specially if you are the main provider and does have that less income source but your expense is way too much
then you would really be needing to be wise on your spending or else you would really be ending up on having those huge problems because of having that overdropped condition.
This is why it would be always recommended that you should really be that strict into that sense.

[Ryu_Ar1]

Apart from that, in my opinion, recording expenses can be done so that we can see where the money we spend is going, because there are people who have large incomes but within a short period of time their income has decreased a lot and as a result it makes them confused because they don't record expenses. This needs to be paid attention to because in my opinion this one thing can also have a big impact if it is done well, I myself have felt it where I have experienced the thing I am telling you about and it turns out that not only I, including many people in my environment, and in Finally, I decided to record my expenses so that I could monitor them well. As a result, with this action, my finances were well controlled.

It can't be done but it must be done.
However, someone who does have good financial management will not forget this trivial thing because this is something important as a first step for us to see the level of economy we have.
Recording expenses is sometimes not paid much attention to by some people because they think that things like this will be troublesome but instead things like this can be an evaluation for ourselves if we expect a stable economy because after all this becomes very important for us to know the level of whether we are wasteful or not and to rethink that what we do in spending money is correct or not.
Indirectly, this is the first step for us to know what steps we should take in the future as a form of evaluation today.

[Mr.right85]

I think the most ideal points on the list is the first and last.

Having to determine your income and
Reviewing your budget after it’s all outlined.

The first could as well accommodate every other point on the list as, in determining your income, in amount, in the time of arrival, you could as well appropriate uses and what you could archive with it using a scale of preference and urgency.

While, reviewing ensures your not making any mistakes and that you’ve set out achievable goals and not goals that would need you up, trashing the budget. If you can archive this two, you could be as well, good to go on a budget.
Also, you might make room for budget surplus due to inflation. It’s more real now than ever!

[junder]

It's true that we have to be able to avoid excessive spending, such as buying things we shouldn't buy, because in my opinion, many people have the habit of buying things they shouldn't buy. This is because they prioritize desires that must be achieved, and don't think too much about basic needs that they should have fulfilled, in this way they tend to experience expenses that shouldn't occur because they follow the feeling of what they want.

Apart from that, in my opinion, recording expenses can be done so that we can see where the money we spend is going, because there are people who have large incomes but within a short period of time their income has decreased a lot and as a result it makes them confused because they don't record expenses. This needs to be paid attention to because in my opinion this one thing can also have a big impact if it is done well, I myself have felt it where I have experienced the thing I am telling you about and it turns out that not only I, including many people in my environment, and in Finally, I decided to record my expenses so that I could monitor them well. As a result, with this action, my finances were well controlled.

Dont buy on something which isnt a priority or something not that relevant on day to day living but since we are just human beings and have their own interest and likings or desires then sometimes it cant really be just avoided for you on not to have those kind of wishes and sentiments on where you would really be that definitely be forgetting into sticking into your budget. Its not bad on doing it for sometimes but it would be better that you should be avoid it if you are really that on strict budget. There's nothing wrong to buy or do such things if you could really be able to afford on doing so, but if you are really just that earning sufficient for your day to day living then it wont really be that ideal on taking up such step. So it would be always best that you should really be that mindful about on the steps that you are making.

Budgeting might sounds easy but doing the actual thing would really be hard specially if you are the main provider and does have that less income source but your expense is way too much
then you would really be needing to be wise on your spending or else you would really be ending up on having those huge problems because of having that overdropped condition.
This is why it would be always recommended that you should really be that strict into that sense.

To take steps related to money, you have to really consider it, like I once wanted to buy the latest watch, but because I have limited income, I still have a watch that still has the same function to see the time, so I considered it first, because I felt that even the watch I owned could still be used and still function normally, therefore I didn't buy the newest watch, because there are people who when they see the newest product they will immediately buy it without considering it. all is well, taoi yes maybe that's true because they have more income therefore they buy things they shouldn't buy (not that important).

In my opinion, there are many people who have little or limited income but their expenses are large so they have problems with their finances, well, as I said before, however, I think if they record their finances, maybe it can help them with their financial problems, and also they must be able to reduce unnecessary or unimportant expenses to reduce their own financial problems.

Apart from that, in my opinion, recording expenses can be done so that we can see where the money we spend is going, because there are people who have large incomes but within a short period of time their income has decreased a lot and as a result it makes them confused because they don't record expenses. This needs to be paid attention to because in my opinion this one thing can also have a big impact if it is done well, I myself have felt it where I have experienced the thing I am telling you about and it turns out that not only I, including many people in my environment, and in Finally, I decided to record my expenses so that I could monitor them well. As a result, with this action, my finances were well controlled.

It can't be done but it must be done.
However, someone who does have good financial management will not forget this trivial thing because this is something important as a first step for us to see the level of economy we have.
Recording expenses is sometimes not paid much attention to by some people because they think that things like this will be troublesome but instead things like this can be an evaluation for ourselves if we expect a stable economy because after all this becomes very important for us to know the level of whether we are wasteful or not and to rethink that what we do in spending money is correct or not.
Indirectly, this is the first step for us to know what steps we should take in the future as a form of evaluation today.

It's true that many people can't do this, because I myself couldn't do it at first, but when I realized I had a problem with my finances which always ran out somewhere, in the end I decided to record my expenses and the good thing is that this had a good impact on me, where My finances are also monitored with my expenses becoming regular. That's true, even though this is said to be small, in my opinion it is quite important, because this small thing can help us become better individuals in managing finances, especially if we have limited income then I think we should do this small thing.
That makes sense, maybe it's true that this is the first step, and also with this we can be aware of other things that must also be paid attention to in managing our finances. because as far as I know there are many people who have limited income but they are still wasteful with managing their money but they don't care about that, maybe they feel that youth is a suitable time to spend having fun by spending all the money they earn, even though they also have a future to look at, if they continue to be wasteful then they will have no preparation for the future.