Finance: How to Create a Personal Budget

 Step 1: Identify Your Income Sources

List all sources of income, including salary, freelance work, investments, etc.

Step 2: Track Your Expenses
Keep track of monthly expenses, such as rent/mortgage, utilities, groceries, entertainment, etc.

Step 3: Categorize Expenses
Divide expenses into fixed (e.g., rent, utilities) and variable (e.g., dining out, shopping).

Step 4: Set Financial Goals
Define short-term and long-term goals, such as saving for a vacation, emergency fund, or retirement.

Step 5: Adjust Spending and Review Regularly
Analyze spending patterns and adjust to meet your financial goals. Review your budget monthly.