Creating a budget is a firm way to take control of your money. With a budget, you are able to tell your money exactly where to go, rather than looking back and wondering where it went.

Dr. Clement Ogunyemi, with 4Q Pro Financial Management & Consulting in Springdale, stopped by KNWA to talk about ways you can create a better financial outlook for you and your family.

Here are some steps you can take to create a budget:

Write down your total after-tax income – This is the amount of money that you bring home from your job, self-employment, side-hustles, etc.

List all your monthly expenses – Expenses should include your regular expenses and your irregular expenses that are due in the upcoming period. All expenses should be accounted for including food, entertainment and gas.

Your bottom line should be zero – Zero-based budgeting means that your income minus your expenses should equal zero. This does not mean you are broke or that you spent your entire paycheck. What this means is that you know where your money is going.

Track your expenses – This step will make sure you are sticking to your budget. Hold yourself accountable and stick to the plan!

You can find more information about creating a better financial outlook for you and your family here.