Step 1: Calculate your income Write down all the money you receive each month, such as salary, commissions, business income, or any other source. Step 2: Make a list of your expenses Include all your expenses, both fixed (rent, services, insurance) and variable (food, transport, entertainment and shopping). Categorize your expenses and decide how much you'll allocate to each category. Don't forget to include a savings fund. Step 4: Compare income and expenses Make sure your e