BBB shares 10 steps to help you budget your money, pay down your debt | BBB Scam Alert [Video]

With inflation keeping costs high, FOX23 wants to help you budget your money and pay down your debt.

The Better Business Bureau (BBB) shared 10 steps to get you started.

Before you start creating a budget, you have to know how much money is coming into your household and going out each month.

The first thing the BBB said you need to do is calculate your income. That’s your net income after taxes and deductions to know how much you’re bringing home.

Secondly, the BBB said to track your spending. You can use apps, computer software or even a notebook to jot down expenses and track your spending.

The Federal Trade Commission has an easy two-page worksheet to help you get started.

Next, the BBB advises categorizing your spending by necessities like housing, utilities and food. Then entertainment, dining out and travel. This can be followed by debt reduction, such as car and credit card payments.

The next step is setting up a spending …