Creating and sticking to a budget can seem daunting. It's not. A budget is nothing more that a plan for managing your money: how much you spend, where you spend it, and how much you save.

The first part of setting up a budget is information gathering. This is probably the part that takes the longest. Take your time, thinking about each step. Since most bills are paid on a monthly basis, it makes sense to figure a monthly budget.

First you'll need to know your income. Include wages, tips, social security, child support, alimony, any income you receive on a regular basis. If your pay varies from paycheck to paycheck, figure your average and use that.

Next, you'll need to figure your expenses. Go over your checkbook for at least the last six months.

Some expenses are the same every month: house payment, car payment, etc. These are called fixed expenses. Other expenses vary from month to month: electric, gas, etc. Use the past six months to figure an average and use that. These are known as variable expenses.

Then you'll need to figure an amount to save. If you are new to saving, start small. 3%-5% of your take home pay. Deposit it immediately.

The last of your expenses that you'll need to consider is an emergency fund. Treat this fund the same way you do your savings. Take a percentage off the top and put it into a separate account each pay period. Experts say 10% as a good rule of thumb. If that feels excessive to you, again, start smaller.

Subtract your expenses from your income. What you have left over is what you get to use for all those non-essentials, like the latest techno gadgets (yes, those are non-essentials) or lottery tickets.

Congratulations, you've just created your very own budget.

Creating it, however, is only the beginning. In order for it to mean anything, you have to stick to it. If it is loose enough, that is, you have a lot of income compared to your outgo, sticking to it will be a breeze. For many of us, however, the opposite is true.

If your budget is tight, don't panic. There are things you can do to keep on track.

You could increase your income. Try and work more shifts. Take on a part time job. Neither of these options needs to be long term, only long enough to loosen the budget some.

If increasing your income isn't an option, then you'll need to decrease your expenses. Fortunately, the possibilities in this area are far more plentiful.

Could you move to a less expensive apartment? Trade in that fancy car for something a

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