How to Create a Personal Budget

Make plans for your money that fit your needs today and in the future. If you are not working, make a budget anyway. You can use an occupation that is a good fit for you now. If you need ways to find an occupation, look at Explore Careers.

Make copies of the Personal Budget (pdf). You can create a budget to use now. Then make others that show how much money you might earn and spend in a few years. See how your money plans change when you add or cut expenses. You can also change your income to make a different budget.

Look at your current budget.
If you are married or have children, plan your money together.

  • Do you have enough for savings and the things you need?
  • Can you spend less on the things that are “nice to have” but not needed? 
  • Where can you cut costs?

Sometimes people eat out less or buy fewer supplies. Sometimes people learn to live without cable TV or use a cheaper cell phone. If you have long-term goals, think about how to budget for them. See Create a Plan & Set Goals to help you.