Creating a Budget That Works for Average Income Earners Do you wish you could have more than just a paycheck? Do you wish you had a little money set aside for emergencies? Budgeting can be tough, but with a little know-how, you can take control of your finances and create a better future for yourself. Step 1: Track Your Income and Expenses Record everything you spend for a month, even if it’s just a cup of coffee or a snack. You’ll get a better sense of where your money is going. You can use a budgeting app, spreadsheet, or notebook to track your expenses. Some popular budgeting apps include: Mint Personal Capital YNAB (You Need a Budget) Spendee Step 2: Categorize Your Expenses Divide your expenses into categories, such as: Housing (rent, utilities, maintenance) Transportation (car loan, gas, insurance) Food (groceries, dining out) Insurance (health, life, disability) Debt repayment (credit cards, loans) Entertainment (hobbies, movies, concerts) Savings (emergency fund, retireme...