Hey everyone Rachel Cruz here with the every dollar team and today I'm going to break

down how to make a budget step by step just so you know it doesn't matter where you are
right now with budgeting skill or knowledge we are going to walk through it together so go
ahead and watch this all the way through then start plugging in your own numbers
speaking of which if you're wondering where to find the numbers that we're going to dive
into that's going to be on your online bank account or paper bank statements all right now
you ready let's go through the five steps so Step One is list your income I want you to list
out all of the money coming in this month that includes regular paychecks and anything
extra like a side hustle and if you're married make sure you're listing out both of your
incomes now add all of that up that's how much you have to work with this month so step
one check now to step two list your expenses so you just listed everything coming in this
month now it's time to prep for everything going out this month here's what I want you to
think about giving saving spending here's a quick note about saving if you don't have an
emergency fund I really want you to make that a priority because life happens but you can
be ready to stand up to it if you have an emergency funds okay when it comes to all of the
spending you need to plan for you want to start with what we call the four walls that's
food utilities shelter and transportation
this is another time when looking at your online bank account comes in Handy so you can
see what you usually spend on all of this stuff now after you've covered the four walls lists
out other Essentials so think about insurance debt child care and don't forget about a
miscellaneous line this helps you prepare for any surprises that may pop up this month
and finally the extras and I love this Parts we're talking about fun Money Entertainment
restaurants personal spending and things like that okay that's step two now it's on to step
three subtract your expenses from your income this number should equal zero we call this
a zero based budgets no this does not mean that you let your bank account reach zero you
want to leave some buffer around 100 to 300 dollars but what it does mean is that you're
giving all of your money a job to do it's paying the bills and moving you forward on your
money goals because you work hard for your money and it should work hard for you every
single dollar but what should you do when you subtract your expenses from your income
and you don't hit zero well if you've got money left over celebrate that's awesome you can
put that towards your debt or another money goal if you've got a negative number don't
freak out okay it's gonna be okay you just need to cut back until you hit zero cutting back
might mean taking extras out of the budget like asking yourself do I really need four TV
streaming services probably not another way to cut back is finding ways to save on normal
expenses like meal planning to get that grocery Budget down or shopping around with
your insurance to find better rates so guess what those three steps were all about making
the budget and the last two are all about sticking with it so step four track your expenses
all month long this is the secret to budgeting well track
your expenses you can't just write down planned amounts in step one and two and hope
for the best you will overspend you hey everyone Rachel Cruz here with the every dollar
team and today I'm going to break down how to make a budget step by step just so you
know it doesn't matter where you are right now with budgeting skill or knowledge we are
going to walk through it together so go ahead and watch this all the way through then
start plugging in your own numbers speaking of which if you're wondering where to find
the numbers that we're going to dive into that's going to be on your online bank account
or paper bank statements all right now you ready let's go through the five steps so Step
One is list your income I want you to list out all of the money coming in this month that
includes regular paychecks and anything extra like a side hustle and if you're married make
sure you're listing out both of your incomes now add all of that up that's how much you
have to work with this month so step one check now to step two list your expenses so you
just listed everything coming in this month now it's time to prep for everything going out
this month here's what I want you to think about giving saving spending here's a quick
note about saving if you don't have an emergency fund I really want you to make that a
priority because life happens but you can be ready to stand up to it if you have an
emergency funds okay when it comes to all of the spending you need to plan for you want
to start with what we call the four walls that's food utilities shelter and transportation this
is another time when looking at your online bank account comes in handy so you can see
what you usually spend on all of this stuff now after you've covered the four walls lists out
other
Essentials so think about insurance debt child care and don't forget about a miscellaneous
line this helps you prepare for any surprises that may pop up this month and finally the
extras and I love this Parts we're talking about fun Money
Entertainment restaurants personal spending and things like that okay that's step two now
it's on to step three subtract your expenses from your income this number should equal
zero we call this a zero based budgets no this does not mean that you let your bank
account reach zero you want to leave some buffer around 100 to 300 dollars but what it
does mean is that you're giving all of your money a job to do it's paying the bills and
moving you forward on your money goals because you work hard for your money and it
should work hard for you every single dollar but what should you do when you subtract
your expenses from your income and you don't hit zero well if you've got money left over
celebrate that's awesome you can put that towards your debt or another money goal if
you've got a negative number don't freak out okay it's gonna be okay you just need to cut
back until you hit zero cutting back might mean taking extras out of the budget like asking
yourself do I really need four TV streaming services probably not another way to cut back
is finding ways to save on normal expenses like meal planning to get that grocery Budget
down or shopping around with your insurance to find better rates so guess what those
three steps were all about making the budget and the last two are all about sticking with it
so step four track your expenses all month long this is the secret to budgeting well track
your expenses you can't just write down planned amounts in step one and two and hope
for the best you will overspend you just will but when you're tracking you're going to see
what's left in each budget line right there in front of you it helps you be accountable to
your money your spouse if you're married and to yourself when you track your
transactions you know where your money's going all the time it is a beautiful thing don't
skip this and it's time for our final step step five make a new budget before the month
begins your budget won't change a ton month to month but let's be honest no two
months are 100 the same so I want you to make a new budget each month you can copy
over last month's budget to start and then look at your calendar and think Hmm what
month specific expenses are coming my way that's holidays seasonal purchases birthdays
and anniversaries here's a budgeter pro tip don't forget to put those special occasions in
the budget you don't want to spend a ton to celebrate but you do need to celebrate those
are the steps you guys and listen this may feel a little clunky at first but that's okay it
usually takes people around three months get really good at budgeting and that's okay too
just trust me stick with it the benefits of budgeting are so worth it budgeting really puts
you in control of your money it's you telling your money where to go instead of wondering
where it went by the way if this sounded like a lot to keep up with then go check out our
complete guide to budgeting and get our free budgeting app every dollar they'll both help
you a ton when you're setting up and keeping up with your budgets

Here is a breakdown of the steps to make a budget according to the information provided:

Step 1: List your income - Write down all the money coming in for the month, including regular
paychecks and side hustles. Add up the total.

Step 2: List your expenses - Separate your expenses into categories such as giving, saving,
spending, food, utilities, shelter, transportation, insurance, debt, childcare, miscellaneous,
entertainment, restaurants, personal spending, etc. Use your online bank account or paper bank
statements to determine what you usually spend on each of these categories.

Step 3: Subtract your expenses from your income - This number should be zero. If you have money
left over, put it towards debt or another financial goal. If you have a negative number, cut back
until you reach zero by eliminating some expenses or finding ways to save money on regular
expenses.

Step 4: Track your expenses - Record your spending throughout the month to ensure that you stay
within your budget. Adjust your budget as needed.

Step 5: Stick with it - Continue to track your expenses and adjust your budget as necessary to
achieve your financial goals.
Activity
Find the meaning of the following words in english and spanish

1. Stick with it: Ventana emergente The term pop-up window refers to an advertising element that
automatically appears on the browser screen.

2. Pop-up: Surgir Leaving from the interior of the earth or from another place towards the surface,
especially if it comes out suddenly and reaches a certain height.

3. Hope for the best: Esperar lo mejor expect the best from a complicated situation

4. Miscellaneous line: Linea miscelanea

5. Clunky: Torpe person Who has difficulty performing a thing with care or skill or understanding a
thing.

6. Being accountable: Ser responsable A person is characterized by his responsibility because he

has the virtue not only of making a series of decisions consciously, but also of assuming the
consequences of the aforementioned decisions and of being responsible for them to whom it
corresponds in each moment.

7. Shelter: Refugio

8. Left over: Sobras are edible remains that are not consumed or that remain from a meal

9. Overspend: Gastar en exceso is a delicate attitude, not only because it complicates a person’s
resources, but because it increases dependence on money.

10. Buffer: Amortiguador capital reserves held by financial institutions enforced by regulators

11. Debt: Deuda Obligation of a person to pay or return a thing, usually money

12. Side hustle: segundo trabajo This concept refers to generating income outside traditional work
through sporadic occupations

13. “life happens”: “la vida pasa”

14. Utilities: Utilidades is the interest, profit or fruit that is obtained from something

15. Dive in: Sumergete Focus fully on an activity or mental states

16. Stand up toit: Ponte de pie to face a bad situation