10 Ways to Become a Budgeting All-Star

If you're new to the idea of budgeting, it can seem daunting at first. But with the right approach, fear not -- you'll get the hang of it. Here's how to win at budgeting and use your budget to get onto solid financial ground.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Your budget can serve you well only if it's accurate. Rather than guess at what your expenses look like, comb through your bank account and credit card statements and see what you actually spend across different expense categories. Having that information will help you see where you're going overboard.

You probably know to include your rent, car payment, and utility bills in your budget. But what about the life insurance premium you pay for once a year, or the professional license you renew annually? For your budget to work, it needs to include one-off expenses -- those that don't recur every month.

You need your budget to be as user-friendly as possible, so to that end, you'll have to find a system that works for you, whether it's a spreadsheet, a list of expenses on a piece of paper, or a budgeting app. Play around with different options until you find the right fit.

If you're hoping that a budget will help you save money, you'll need to make a line item for savings in it. Figure out what you spend on essentials, and from there, see what monthly savings target is reasonable. And then make a point to add that sum to your savings account every month.

Whether you want to buy a home, put money aside for retirement, or pay for college, your budget should help you meet your long-term goals. Add a line item for each one that's on your radar so you can allocate funds to it.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Setting up a budget can clue you in to expenses you need to cut back on. But make sure you're slashing your costs realistically. You can't, for example, expect to go from spending $500 a month on groceries to $100, but cutting that expense to $400 may be doable.

Depriving yourself of anything and everything fun is no way to live -- and it's not sustainable. Therefore, make sure your budget allows for some leisure spending, whether it's a streaming service that keeps you entertained or the weekly takeout order you look forward to.

Your budget isn't something you should set and forget. Rather, you should plan to review it once every three months to make sure it's working for you. And if it isn't, make changes that allow you to follow it.

Over time, you might get a raise at work or be forced to take a pay cut. Your landlord might raise your rent or you might finally pay off your car. All of these changes should be accounted for in your budget, so be prepared to make modifications as circumstances shift for better and for worse.

If you live alone, you can tackle your budget solo. But if you're coupled up, having your spouse or partner's buy-in can make your budgeting efforts more successful. In fact, it pays to create a budget together so you can get on the same page and work toward mutual goals.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Learning to do well with budgeting could set the stage for financial success. Follow these tips, and you'll soon be on your way to rocking a budget like nobody's business.