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There is no way to balance your budget short of bringing in more money that you spend. You need to monitor your spending, cut unnecessary expenses and also look for ways to increase your income.

1. Determine your spending – some people use a notebook to write down everything they spend for a whole month. You can also use your past check books and credit card statements to get a handle on how you are spending your money.

2. Compare your spending to your income. If you are spending more than you are taking in then you have to sacrifice.

3. Prioritize your spending. Put your spending items under necessary (like groceries, housing and transportation), needed (clothing, pets and other similar items) and luxury (movies, eating out, and vacations).

4. Cut back on your spending. If you have a large deficit each month then you will have to make large cuts.

5. Include savings. You will want to be sure to cut back enough in your spending that you can begin saving. The goal is to have three to six months worth of savings in an account.

6. Include a little money each month for a splurge now and then. If you completely cut back then you will likely end up breaking your budget before you get started.

7. Pay off your debts. Start with the highest interest rate and pay extra each month on it until it is paid in full. Then take that payment and add it to your next highest interest rate. Continue this cycle until you are debt free.