One skill that is often overlooked but is crucial for financial wellbeing is budgeting. In its simplest form the most essential elements for budgeting are: income and expenses. Budgeting is only creating a plan for how you are to spend and save your money over a certain period. In a first step is identifying your income, have a list of all the money you receive month to month, if it changes, try to stay on the safe side and plan accordingly. Then look at expenses, they usually fall under two categories: fixed expenses that stay the same month to month, and variable expenses which tend to go up and down.