Make a plan for your money. Creating a budget will help you manage your income and spending and reach your goals.

Five steps to create a budget: Download and use our Budget (Spending Plan) Worksheet.

1. Determine your monthly income: consider your income and any other resources.
2. Make a list of your monthly and annual expenses. Tracking your daily spending can help you figure out exactly where your money is going.
3. Compare income and expenses. If you are spending more than you are earning, think about how you might reduce your expenses.
4. Create a budget that includes savings. Learn more about saving and investing.
5. Periodically evaluate and adjust your budget.