Living on a budget: Recent Grad Style

I'm building my first serious budget today, and maybe you should be too. Here's what I'm using:

"Putting together a post-college budget is crucial if you don't want to spend your way into serious problems. You're also developing a habit that can serve you well throughout your life.

"You're committing to managing your money instead of letting your money manage you," said economist Kathy McNally, head of financial literacy for the National Foundation for Credit Counseling. "The earlier you start, the better."

You'll probably find it helpful to first track how you're spending money
now. Review one of your recent bank statements to get an idea of your current
monthly expenses and your monthly take-home pay. Then track every dime you spend for the next three or four days to learn where your discretionary money goes.(For more, see our Managing Your Budget Decision Center.)"

~MSN Money*

See the full article here.