Budget

A plan for how you'll use the money you expect to get.

A budget is a plan made ahead of time: what's coming in, what has to go out, and what you'll do with the rest. Tracking is looking back at what you spent; budgeting is deciding before you spend.

Budgets can be monthly or built around each paycheck. Whatever the method, a budget only works if it matches how and when you actually get paid.