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Total your income.Figure out how much money you are spending.Categorize your expenses to show where your money goes.Determine if your expenses are above or below your income.Reduce expenses in flexible categories to save or increase savings.

OR

1. Add up all sources of income

2. Calculate all expenses - this may take several tries because you may forget items

3. Categorize different expenses

4. Determine if expenses are below income

5. Reduce expenses in flexible categories - required vs luxury

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Q: What is the order of steps to make a personal budget A Reduce expenses B Categorize expenses to required versus luxury C Add all income sources D Add all expenses D Are expenses below income?
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