How do I prepare a budget for my personal finances?
To prepare a budget, start by listing your income sources and monthly expenses. Do you have a specific income in mind?
I earn $3,000 a month. My main expenses are rent, groceries, and utilities.
Great! Let's break it down. How much do you spend on rent, groceries, and utilities each month?
I pay $1,200 for rent, $300 for groceries, and $150 for utilities.
Your total monthly expenses are $1,650. This leaves you with $1,350. Would you like to allocate this remaining amount to savings or other expenses?
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