Check your spending

See if your take home pay is greater than your expenses.

If you’re spending more than you earn, you should consider creating a monthly budget to figure out where you can cut costs so that you don’t have to borrow to pay for your monthly expenses.

 

Three steps to developing (or reviewing) a budget can help you to find ways to save more:

Money in

Identify your monthly take home pay.

Money out (estimates are fine)

Then track your expenses for: housing, transportation, food, healthcare, childcare, debt, clothing, entertainment, other.

Calculate money in minus money out.

If the result is greater than zero, good work, you’re probably spending less than you earn.


 

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Create a budget

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