Many people are making New Year’s resolutions for 2017, and a frequent one is making a budget to control spending.

Franco Savoia with Unexpected Expenses and Vibrant Communities said ultimately it’s going to mean some change in how you spend your money.

“The critical step is taking the time to sit down and work it out. Knowing is a start but ultimately if you’re spending too much in one area then you will have to curtail some of those expenses.”

Savoia explained that the first step to a successful budget is keeping tabs on what you're spending your money on.

“Even if you just keep your receipts you can get a sense of what it looks like. From there you can say ok how much do I have and is there any way to try and live within my means. This is tough stuff because if in fact you’re living on the edge, it can feel like there isn’t time to do that type of budgeting and therefore we get on the treadmill that you never get off.”

Some more advice Savoia had to give is that if you don't want to go through your expenses yourself, there are plenty of credit bureaus and resource centers that will sit down with you and help.