Provide your income: Make a note of how much money you earn each month.Plan out your budget: With your income and expenses listed out and a SMART goal in hand, see how you can adjust your expenses to realize your goal. Timebound: A goal always needs a timeline, so you can see if you're nearing your goal (such as, “I'll put $200 in my savings by the end of the month.”)Ģ.Relevant: Your goal should be relevant to you (such as, “I want to build savings to prepare for any emergencies.”).Achievable: Goals that you can’t meet will only frustrate you, so be sure to make your goal reachable, given your means (such as, “save $20 from each paycheck.”).Measurable: Provide a number so you can see when you meet a given goal (such as, “I want to have $1200 in my savings account.”).Specific: Be very specific with the goal you're creating (such as, “I want to start building my savings.”).Build SMART goals: Write a list of what goals you want to accomplish from budgeting. Use our Budget Builder to help you craft a budget that matches your income and your needs:ġ. Use this step-by-step guide to start your monthly plan. Different ways to build your budgetĬreating a budget each month is a common way to track your expenses. Whether you're saving up for a vacation or simply trying to cut back on your spending, a budget will help you achieve your goals faster. Creating a budget allows you to keep track of your purchases and save money.