 TITLE: How to Budget When You’re on a Very Low Income CONTENT: What Is a Budget?\n-----------------\nIf you want to become more financially stable, the first step is to get your financial life organized. One of the best ways to do this is to make a budget. The idea of budgeting can sound intimidating, but a budget is just a way of understanding where your money is coming from and where it's going. In the short term, a good budget can help you do things like save money on a car or other large purchase, pay off debt and make payments on time. In the long run, a solid budget can help you prioritize what's important in life as you plan for your future and set goals.\nAlmost all budgets have two main parts you'll need to track: _income_, which is how much money you have coming in, and _expenses_, which is how much money you have going out. While the majority of income for many people comes from a job, what counts as income is broader than you might think. For example, child support, Social Security payments, alimony and other things you might not think amount to much all count toward income.\nUnderstanding expenses can seem pretty straightforward because people often assume they know what they're paying for on a regular basis—but don't be tempted to skip this part: People often overlook small purchases and expenses that add up to a lot over time. For example, Americans spend an average of $20 per week eating out for lunch, which adds up to $1,043 per year. END