Preparing a monthly budget is a necessity for most households. But when you’re planning your budget you’ll discover monthly expenses can soon add up, even if you have a larger than average income. Organizing your finances is a healthy first step in budget planning. So, let’s explore the all-important process of analyzing your monthly expenses.If you want to control your spending and work toward your financial goals, you must create a budget.A personal or household budget is a summary of your income and expenses for a set period of time, typically one month. While the term "budget" is frequently associated with limited spending, a budget does not have to be restrictive in order to be effective.A budget will show you how much money you expect to bring in, then compare that to your necessary expenses (like rent and insurance) and discretionary spending (like entertainment or eating out). Instead of viewing a budget negatively, consider it a tool for achieving your financial objectives.