Creating a monthly budget can feel like herding cats—things go in every direction, and somehow your money disappears before the month ends. But with the right approach (and a solid spreadsheet), you ...

Other than student loan repayments, Forsythe's biggest monthly expense was his $750 mortgage payment; he had snagged a 625-square-foot condo during the pandemic and locked in a low mortgage rate.

Another significant expense for many middle-class families is dining out and takeout, Shirshikov said. “While convenient, frequently eating out can quickly become a financial drain,” he said.