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What are the steps for creating a simple budget?
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1. Identify sources of income.
2. Create a list of essential expenses.
3. Track spending to get an understanding of where your money is going.
4. Create a financial goal.
5. Estimate income and expenses for the upcoming month.
6. Calculate the amount of money left after subtracting expenses from income.
7. Prioritize spending and allocate funds to different categories.
8. Adjust budget and expenses as needed.