Step 3: BUDGET
This step is key to effective money management. Calculate how much money you earn and then work out, line by line, a list of everything you pay out each month. Once you have done this, you will see how you are spending your money, where you need to make the necessary adjustments and will be able to manage your money more effectively.
You can also sign up for free financial software at Mint.com which will do your budgeting for you.
Click here to read the next step of Five Steps To Help You Manage Your Money – Step 4