In its most basic form, a monthly budget tracks how much money you bring in and how much you have to spend on your needs. Whatever’s left over is yours to spend how you like or to save for the future.

Budgeting is more popular than ever. A 2022 Debt.com survey found that 86% of people track their monthly income and expenses, up from 80% in 2021 and 2020 and roughly 70% pre-pandemic. And in a world ...