Personal Financial Planning Budgeting Steps to managing income and expenses include: • Be realistic when making a budget. • Identify monthly outflows as living expenses, savings, and discretionary. • Estimate low for income. • Estimate high for expenses. • Track every expense. • Track income and expenses monthly and review periodically. • Save for large purchases. • Save first. • Budget for fun. Education Funding Several tax advantages are available to help save for education expenses. • … [Read more...] about Financial Planning Guide