This time of year - whether you're thinking about holiday shopping or your New Year's resolutions - it is likely that budgeting is on your mind. If you're not sure what you have to spend and what you need to save, then it's time to figure out your finances. Not sure where to start when creating a budget? Let our financial expert help you with those tricky first steps.

Watch Carmen's advice:
















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For more advice watch Carmen Wong Ulrich on ' On The Money', weeknights at 8 pm ET.