Welcome back to the SaveItUp Blog!  The 2010 Challenge is underway and so is the New Year.  Most people make resolutions to get into shape when the New Year begins.  Exercise is definitely important, but becoming financially fit is also significant.  The first step in becoming financially fit includes creating a budget.  Below are some items to think about when you make your budget:

• Gather all of your financial statements - this includes bank statements, bills, investment accounts, payroll information, etc.
• Use a budgeting worksheet to identify how you're spending money now
• Evaluate your current spending and set goals
• Goals may include making automatic contributions to a savings account, paying down credit card bills, etc.
• Make adjustments to your budget and prioritize your spending to meet your goals; for instance, cut down on your eating out budget so you can put some of that money toward debt reduction
• Review your budget on a monthly basis; to keep organized, you may want to use budgeting software like Quicken or Mvelopes 

Although creating a budget can seem daunting, it's truly for your benefit.  Getting out of debt and having a savings safety net will lead to financial peace and security.  Plus, when you get into the habit of creating and updating your budget, you'll be in control of your money instead of letting your money control you!