Do any of these statements apply to you?

• Sometimes my money goes out faster than it comes in. Then I have debts.
• I pay my bills every month, but there's nothing left over.
• I sometimes save a little, but I can't seem to save enough to reach my long-term goals.

Many people find it hard to keep their spending on track. If this is you, a budget can help. A budget is useful for everybody - even for people who just want to know where the money goes.

How can a budget help me?

• Helps you track everything you spend.
• Reminds you about the bills you must pay each month, such as food, rent or mortgage, gas, hydro, and loans.
• Helps you plan for costs you only have from time to time, such as clothes, gifts, entertainment, trips, or things for your home.
• Helps you find ways to spend less, save more.

Tip: If you're in trouble from spending too much, a budget may not be enough. You can get expert help from your local credit counselling service. Look for them on the .

Remember: A budget helps you keep track of your money

It also helps you balance spending and saving. If you have a plan to follow each month, you are more likely to reach your goals.

Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.