{"id":263,"date":"2016-06-30T18:00:31","date_gmt":"2016-06-30T18:00:31","guid":{"rendered":"https:\/\/sites.austincc.edu\/money\/?page_id=263"},"modified":"2025-09-30T10:55:51","modified_gmt":"2025-09-30T15:55:51","slug":"monthly-budgeting","status":"publish","type":"page","link":"https:\/\/students.austincc.edu\/money\/monthly-budgeting\/","title":{"rendered":"Monthly Budgeting"},"content":{"rendered":"

Taking time to make a budget will help you make smart financial decisions today and help you reach your future financial goals. It\u2019s not complicated, but it does take time. Follow the steps below to get started.<\/p>\n

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Monthly Budget<\/a><\/div>\n<\/div>\n
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Step one:<\/strong> List all your income<\/a>. Keep in mind, income is often more than just the money you receive from working!<\/p>\n

Step two:<\/strong>  Use our Budget Builder Tool<\/a> to identify all your expenses, including your fixed, <\/a>flexible<\/a>, and periodic<\/a> expenses.<\/p>\n

Step three: <\/strong>Choose a budget format that works for you and record all your income and expenses. There are hundreds of formats to choose from \u2013 or you can just grab a pen and paper and start creating your own. What\u2019s important is that you get it out of your head and documented somewhere, somehow!  (Monthly budget template<\/a>)<\/p>\n

Step four:\u00a0<\/strong>Balance your budget. Do you have money left over? Or do you have more going out than coming in? (How to handle a shortage<\/a>) Adjust your budget so that money coming in matches money going out.<\/p>\n

Step five: <\/strong>Continue to track spending, review your budget monthly, and make adjustments.  Consider periodically using our expense tracker<\/a> to track your spending to get an accurate picture of your weekly spending habits.  A budget is a living document that continuously changes!<\/p>\n

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