Hi, how can I start budgeting at the very beginning? I'm in such a position where I must decide about how to pay off my several loans, debts, etc...and I feel that without a good budget it's almost impossible to do so. Just want to know how beginners do this and especially interested in how people choose a method to pay off their debts each month.

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I can provide you with an answer that is broad and general in sense. If I'm not mistaken, you want to know how much money you should put in each of your categories when you just start. I'd ask you to take your best guess and put money accordingly and as the month progresses, you can always adjust your budget and move some from one category to another or vice versa. After few weeks, or months, you'd get a fair idea as how much you should spend.

However, regarding debts, in the very beginning when you just start your budget, make the minimum monthly payments toward each account and once you get a better hold of your budget, start attacking the accounts with extra payments.

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