How to Set a Budget?

You set up a budget by identifying how much money you have coming in each month and determine how many bills or how much money you have going out. You should list all of your expenses and allocate a portion of your income to each of those and then determine how much you will have left over at the end for any additional expenses. You should never spend more than you make in a month or you will experience a deficit. This is when you might find yourself using credit to cover the overspending.