Good morning! It’s the third day of our Back to School week, and today we’re helping you manage your money. I’ve been trying to be better about budgeting, and I wish I had started sooner. I want to help you start saving now, so I asked my colleague Mike Dang, The Times’s personal finance editor, for tips.

Mike Dang explains that budgeting is simple in theory but can be difficult to execute. The goal is to spend less than you have coming in. Start by listing fixed monthly expenses—housing, food, and other costs—and ensure they’re less than your income. Many budgets fail when people don’t track spending on groceries or dining out. Budgeting apps like YNAB can help keep you on track.

Regarding credit cards, generally, people don’t need them, but they help build a credit profile for future loans. Some reward cards offer benefits for dining and travel, but only if you pay the balance in full each month. If overwhelmed by student loans, consult your college’s financial aid adviser—they can help with forbearance options. Remember, you’re not alone in this struggle.