The best approach to proposing a budget takes some preparation. Here is a list of things to start with:

What Is My Purpose? How do you know when you arrive at a place unless you know where you are going? Ask, why am I doing this? Think through what you want in the next six months, then one year, then five years, and beyond. What is it you want and how long do you want it to take?

Track Your Income. You must know EXACTLY where your money is going if you are to control all of your spending. This is no place for guess work. Check registers and credit card receipts are great for tracking. But what about all of the non-receipted items, especially cash purchases? There could be hundreds of dollars unaccounted for each month. I constantly find in my debt management classes that this is the chief cause of budget failure. I strongly encourage you to carry a notepad and pencil and record every single non-receipted purchase you make. Do this for a minimum of 2 weeks. The longer you track your spending, the better. I have been told by scores of students they were astounded by what they learned from this exercise.

Filter Your Spending. It is one thing to deprive yourself and your family, but there are also multiple ways of doing the exact same thing. Some ways cost less than others. You must find smarter ways of doing things.

Plan For The Unexpected. How do you deal with fluctuating income and periodic expenses?

Review Your Goals And Budget. Goals change. Income and expenses change. Things happen and you need to adjust to them. Change is inevitable, if you cannot adjust to change, you need to find out how to do it. For years I have taught that the only time you fail, is if you quit. Regardless of what comes along, if you get knocked down but get back up, you cannot help but achieve your goals.