Everyone needs to budget and everyone needs to budget to live within their means. No matter how much money you have, you have to have a budget.
So if you’ve never done it before, how do you budget?
A great way to start is to simply track how much you spend on a monthly basis. There are free apps that will sync up with your bank account and do this for you. You can see how much you spend on rent, bills, groceries, gas and sundries. That will give you a baseline to start from.
From there, you might even want to look at where you can begin making immediate cuts to your budget. For example, maybe you’re spending way more money eating out than you thought you were, so there’s a place to start saving money.
There’s more art than science to this and don’t be surprised if you spend the first six months of budgeting making constant adjustments before you get it down cold. But you’ll find it much more possible to live within your means.