How to create a budget

How to create a budget

A budget gives you clarity on where your money is going, helps you save for your goals and puts you in control of your finances.

Budget expert Vanessa Bowen shares her tips for creating a budget (that you can actually stick to!):

  • Download and categorize your transactions into groups like shopping, restaurants, rent, etc.

  • Create averages for each category. This gives you a clear indication of what you're spending in each area of your life.

  • Determine benchmarks for each category on what you want your averages to be in your new budget.

  • Include annual and quarterly expenses and save them into a separate savings account.

  • Plan ahead for gifts

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