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Step 2 – Track Your Spending

You need accurate information to make an informed choice about how much money you can afford to pay each month for a house payment. To get this information, track how much you spend on your living expenses for at least one month. This information will show you the truth about your spending habits.

Continue using the Track Your Spending tool so you can avoid the Top 10 Money Management Pitfalls.



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8 Steps to Budgeting
  Understand the Importance of Personal Money Management
  Track Your Spending
  Set Your Goals
  Add Up Your Income
  Review and/or Open Checking and Savings Accounts
  Create a Spending Plan
  Create a Savings Plan
  Calculate the Mortgage Payment You Can Afford