Income

• A typical budget includes detailed information about your income, which is money that you take in through employment or other means. Income is an important part of a budget because it tells you how much money you have at the beginning of each week, month or year and dictates how much you are able to spend. Money-Zine states that to be financially stable, your income must be greater than your expenses. By including your income in your budget, you can see how your expenses match up.
  
  

Expenses

• A typical budget includes information about your expenses, which is the money that you spend. Include all household expenses, including utility bills, car payments, mortgage payments and other expenses, such as shopping and dining. An easy way to track your expenses and include them in your budget is to look at your check register, credit card statements and receipts for several months. By doing so, you will have a relatively good idea of your normal monthly expenses.
  
  

Plan of Action

• A typical budget includes a plan of action. Once you know how much money you bring in and how much money you spend, you can use the remainder to meet your financial or personal goals. Your plan includes the amount of money you will use to meet your goals and how you are going to increase your income and reduce your expenses. You should also have a contingency plan in case you cannot stick to your budget 100 percent of the time. This may mean having the option to work overtime to pay for unexpected expenses, for example. Ultimately, your budgeting plan should mean that you do not spend more money than you are bringing in from income.
  
  

Form

• A budget can take many forms and be modified to fit your needs. You may have a simple budget that includes only your employment income and your household expenses. Alternatively, you may have a more complicated budget that includes employment income, household expenses, stock dividends, child support payments and more. You may use budgeting software, keep a spreadsheet, or saving your receipts and pay stubs and use them to write down your income and expenses. In any case, keeping a budget will help you stay organized and on top of your financial situation.