If you've ever struggled with sitting down and doing a budget, you're not alone. The key with budgeting is to start out with some goals. When it comes to budgeting, it's important to find a method that works for you. Whichever budgeting system you choose, it can be really useful to spend a couple of weeks doing a money diary, where you list everything you spend — from big bills to coffees. Three common budgeting methods are the cash envelope method, the balanced money formula, and a traditional budget. This video contains general information only. It should not be relied on as finance advice. You should obtain specific, independent professional advice from a registered financial planner in relation to your particular circumstances and issues. Read more: https://www.abc.net.au/news/2019-04-01/struggle-with-budgets-you-could-try-one-of-these-three-methods/10955990 RESOURCES National Debt Helpline http://www.ndh.org.au/ ASIC’s Moneysmart https://www.moneysmart.gov.au/ ASIC’s Moneysmart budget https://www.moneysmart.gov.au/media/559464/budget-planner.xls Good Shepherd Microfinance No Interest Loan Scheme https://goodshepherdmicrofinance.org.au/services/no-interest-loan-scheme-nils/ For more from ABC News, click here: http://www.abc.net.au/news/ Subscribe to us on YouTube: http://ab.co/1svxLVE You can also like us on Facebook: http://facebook.com/abcnews.au Or follow us on Instagram: http://instagram.com/abcnews_au Or even on Twitter: http://twitter.com/abcnews #PersonalFinance