Building a budget involves calculating your monthly income and expenses to see how much money you have and where it's going. It can help you pay your bills, save for the future and achieve your goals.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

A version of this article appeared in the October 2006 issue of Harvard Business Review. Harvard Business Publishing: Copyright ©2026 Harvard Business School ...