Finally, take the information you have learned and create a budget for next month using a monthly budget worksheet. On this worksheet, you will fill in your income along with your fixed expenses, fixed variables, occasional expenses, and installments such as credit card payments. After you total up your income and all expenses you will be able to see if you have an excess at the end of the month or if you are short. If you are short, now is the time to cut back on some occasional expenses as well as some fixed variable expenses in order to operate a working monthly budget.
Plan Instead of Panic _ But this is no time to panic. It just the time to find out the truth. As one major advertiser tells us, even if it is not good news, it is good to know! When you figure out where your money is going, you will be able to fix it. If you have no idea where your money is going, the problem will just get worse.