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What is the best way to set up a basic budget?
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Start by tracking all of your income and expenses. Set a goal for yourself, such as saving a certain amount of money or reducing your spending in certain areas.2 Create a budget by dividing your expenses into categories and deciding how much will be allocated to each.3 Automate as much as possible. Set up regular transfers to put aside money for savings or set up automatic bill payments.4 Monitor your budget regularly to make sure you are staying within your limits. Make adjustments as needed.5 Look for ways to save money where you can. Consider necessary expenses that can be reduced and find ways to challenge yourself to save more.