Budget

Create a budget that lists your income and expenses now.

After you know where your money is going now, create a new budget. First, figure out the things you must spend money on. For example:

• your rent or mortgage,
• health care costs,
• heat/utilities, and
• money for food.

See Which debts should I pay first? If you have money left over, decide how much you want to save and how much you want to spend on non-essential items.

Need help?

• Your public library has books to help you create a budget.
• The Consumer Financial Protection Bureau has tools for Tracking your spending, cutting expenses, and income and benefits tracker Toolkits;
• Many non-profit organizations offer programs, classes and offer help preparing a budget. 
• Find more community groups that help people prepare budgets.
• See our sample budget with instructions, example and worksheet on MassLegalHelp.org