Guide to Creating Your First Budget (and not dying in the attempt)
•The Monelyx Team
Why Do You Need a Budget?
A budget isn't a straightjacket; it's a tool for liberation. It gives you the power to tell your money where to go, instead of wondering where it went.
Step 1: Know Your Income
First and foremost, you need to know how much money comes in each month. Add up all your income sources:
- Net salary
- Freelance income
- Any other regular income
Step 2: Track Your Expenses
This is the eye-opening step. For one month, write down absolutely all your expenses. Use our app to make it easy.