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Know where your money is going? Or does it just slip away, and you wonder where it went? You may need a budget!

A budget is a practical way to get a handle on your finances. A budget, if used properly, helps keep you on track and helps you get ahead financially.

How do you start a budget? First of all, you must accurately reflect your expected net earnings (the amount you bring home in your paycheck). Next, you will list your expenses, and determine any difference between the two.

Budgets can be prepared manually with a pad and pencil (and calculator), or through electronic means. If you are computer-savvy, you might want to put your budget on an Excel spreadsheet, or use some other computer program to prepare your budget. The possibilities are vast with various accounting and finance programs available, as well as shareware and public domain freeware products within easy reach through the Internet.

Whatever means you use, there are some practical tips that will help you set up and utilize your budget successfully. These include:

-When listing your expenditures, prioritize them and include at the top your fixed obligations. These might include your mortgage, car payments, credit card payments, health insurance premiums, etc.

-Remember to include items that you may not need to pay monthly, but should budget and save for monthly (so that the funds are available when they are due). These might include such things as property taxes, car insurance premiums, and Christmas club savings.

-Remember to include some savings amounts in your budget. YOU are the only one who will be diligent to pay YOU. So if you don't save some of your money for those "rainy" days or special events, you might be hurting when they come. Set aside a reasonable portion and pay yourself in the form of a savings account and regular contributions to it.

-If you have some of your monthly bills automatically deducted from your checking account, you need to record these and include these with your top expenditures. I also recommend a procedure I use. I have a listing of all of these separately in my office. Every month then, on the very first of the month, I record these in my checkbook so that I ensure they are accounted for in my check register. This way, no matter when they are deducted, I have already subtracted them from my register. If this will not work for you, just ensure that you have them recorded prior to when they are due, so you do not overdraft.

-I also recommend a similar procedure for the

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