Yes, you can make a personal budget in just 25 minutes

NEW YORK • Now is a great time to develop a serious budgeting habit. The next year might bring changes to your annual income and you should look at your finances now so that you are prepared for them.

A nation can run deficits; households should avoid them. People without budgets are more likely to fall into debt – and anxiety. But search for “how to create a budget” and most results are inadequate. Much advice focuses on those with low or no incomes, ignoring other barriers to budgeting such as unexpected layoffs and expenses. And almost everyone underestimates the rewards of budgeting.

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