9 Ways to Create a Monthly Budget if You Don’t Have One

6) Adjust Your Habits

Once you have all the information needed to formulate your monthly budget, it’s time to look at your spending habits. Are there things you can reduce or buy less frequently? Even if you look to snip small things here and there, you’ll be amazed how fast those add up. How often do you eat out? Can you go on a night where they have a price fixe menu instead? You can also look at your fixed monthly expenses to see if there’s anything you can reduce. Do you have every premium channel in your cable package? Even if you reduce your bill by $50, that’s a $600 savings at the end of the year. Or perhaps you’re paying for extra data on your cell phone which you’re not using. The point is, scrutinize everything and you may be surprised how much you can save.