One thing we did was sit down together to create a budget. When we began our journey to become debt-free, we had to look at all aspects of our finances. Rather, it was a piece of paper where I’d write down who I had to pay every month, so I didn’t forget. My husband and I used to have a “bare bones budget.” Except it wasn’t, really. Most importantly, I learned why I must have a budget. But it also taught me many valuable lessons about personal finance. But I’ve learned that the things that were the most challenging in my life have led to the biggest rewards.ĭeclaring bankruptcy was a low point for me. I know it can be terrifying to really look at how you spend your money. It also means learning about your spending habits and making changes.Ī few tweaks may help you pay off your debt and reach long term goals, such as saving for retirement. Improving your money management skills doesn’t just mean spending less. You can use a pen and paper with our printable form or software for online budgeting. Below you’ll find step-by-step instructions to follow to create your budget, whether you’re a beginner or have budgeted in the past. Making a spending plan that works is not hard, however, if you have someone to help you. When you’re trying to pay off credit card debt or save money, you’ll hear it time and again: “You need a budget.” But if you’ve never created a budget, the mere thought may make you want to run and hide. Please see our full disclosure policy for details. That means if you click and buy, we may receive a small commission. Includes free printable budget spreadsheet template! INSIDE: Need help knowing how to budget? This step-by-step guide will help you create a budget that actually works.
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