What are the basics of budgeting?

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Budgeting is a key part of building financial success. A budget can bring awareness to your spending habits and allow you to change them if needed. It will also help you achieve your short term and long term financial goals such as paying off a credit card or purchasing a house.

Budgeting basics

Figure out your after-tax income
Calculate your expenses and sort by “must haves” and “nice to haves”
Set short-term and long-term financial goals
Create a budget
Make changes to your spending habits if needed
Make it a habit and review your budget often