Will give brainliest! write in complete sentences to explain what a budget is, how to make one, and how to balance it.

A budget is simply an estimate of income and expenses for a set period of time with designated categories. To get started in creating one; make a list of all your sources of income for the month (take-home pay). Then list all your expenses for the month—start with the four walls (food, shelter and utilities, transportation and clothing). You want to make sure your rent or mortgage is budgeted for first before you start budgeting for your gym membership. Once that’s taken care of, list all your other expenses, like entertainment, date nights, and the shoes little Johnny needs for school. Some expenses will occur every month (rent, utilities), and some will be one-time expenses (birthday gifts, special events, weddings). Adjust your budget each month and you’ll be set.