Creating a budget plan is an important way to keep track of the money you earn and spend. A budget can also help keep your monthly spending in check, so you can still achieve your savings goals.

A technique that you may find helpful is known as a payday budget routine. Think of a payday budget routine like a road map. By allocating a destination to every dollar you earn, you reduce the chances of getting off-track from your budget each month.

A payday budget routine can be especially helpful if you find yourself stretched for money between paychecks. Having a plan in place can also help you avoid making impulse purchases at the expense of your financial goals, such as paying your bills in full (and on time) or setting aside some money for savings each month.

Implementing a Payday Budget Routine

The following three-step plan can help you get started:

1. Divvy up your paycheck

Preparing for a financially secure future can help reduce any financial stress you’re feeling and may also help set you up for long-term financial wellness. Equally important is making a point to stay in touch with people in your personal life. Sharing your thoughts, concerns and experiences, rather than keeping them bottled up, can help ensure a focused mind.

2. Stick with your plan

By knowing that each and every cent of your paycheck has a destination, a budget routine may also help you look at your paycheck in a new way—as less of a lifeline and more of a way to get one step closer to achieving your long-term financial goals.

3. Gather your pay stubs

To begin, you’ll need a copy of your latest pay stubs for the month. If you receive your paycheck through direct deposit, contact your HR department if you need help accessing your pay stubs electronically. If your pay varies from paycheck to paycheck, or you work multiple jobs, the Consumer Financial Protection Bureau has an income and benefits tracker that can be helpful for tracking your monthly income.

Stay on Track for a Stable Financial Future

Developing and sticking to a budget plan can be extremely helpful in achieving a healthy and secure retirement. When consistently adhering to a routine, there is less room for second-guessing smart decisions, which may help give you greater peace of mind. Once you start budgeting, financial stability is within reach.