Anyone can learn how to make a budget using a worksheet and ways to save money. It only requires a monthly assessment of income and spending.
Budgeting is not taught in schools. Maybe it is considered too fundamentally easy to limit spending to what you earn. If you have learned that basic fact, you can skip this page. There is little that you can learn by reading on. Wait! Read more if you want to secure your financial future.
Even the wealthy need to control their spending. Why? Lottery winners and professional athletes have blown through millions of dollars and have filed for bankruptcy. There is no dollar limit on who needs to account for their spending. Unfortunately, we live in a society that promotes spending.
I have always been amazed by immigrants, who enjoy the freedoms in the United States that allow earning limitless amounts of money. Yet, they have not adopted the spending habits of those born here. Often they accumulate an enormous "net worth".
A person is wealthier than most, in this country, if they spend less than they earn. They, not only have no debt, but are saving money. With or without a budget, they are accumulating assets. Their financial future could be secure.
If the priority list above does not make sense to you, stop reading until it does.
(Note: I have purposely made this as simple as possible. The more complicated a budget is, the less likely that it will be followed.)
Getting spending under control can be exciting - as can be accumulating money in a retirement savings account. After awhile, the need to spend is easily replaced by the need to save. When that happens disposing of not needed "things" and "clothes" is no longer necessary.
Part of the transition is no longer wanting something that you never needed. And securing that which you will need, i.e., retirement savings and an emergency fund.
Following the priority list above is more important than anything else. There is software available for budgeting. It is not necessary when you start. It is extremely important to keep it simple.
After a couple of months, fine-tune your budget. Modify it as necessary. Treat your personal budget as you would a budget in your own business. Companies must make a profit or go out of business.
In time, you will do a "net worth" statement regularly, as I have done for over 30 years. That is the only way that one can measure their progress.