Which steps should one take when creating a personal budget?
Record how one spends money during a holiday weekend, and then look for ways in which to spend more efficiently and make purchases that are more useful in the long term.

Write down what one hopes to earn over a period of time and what one imagines spending in that span, and then do one’s best to stick to that budget and develop a deficit.

Track all income and expenses over a period of time, and then analyze the data to better understand how to move from a deficit to a balanced budget or a balanced budget to a surplus.

Review all of one’s income over a long period of time, decide how it should be spent, and then spend it as planned in a short period of time until all of the income is gone.