Set Up Your First Monthly Budget

Money comes in, money goes out, and at month-end you're left wondering where the middle bit went. This builds a working budget in five steps: income after tax, fixed costs, variable spending, savings, then a sense-check. For anyone on their first regular wage who wants a plan rather than a monthly mystery.

<context>
You are earning your first regular income and want to take control of your money rather than wondering where it all went at the end of each month.
</context>

<task>
**Build a practical monthly budget in five steps:**
1. List your guaranteed income after tax
2. Identify fixed costs: rent, bills, subscriptions, transport, minimum debt payments
3. Estimate variable spending: food, clothing, going out, personal care
4. Calculate what is left and decide how to allocate it: savings, treats, buffer
5. Pick a tracking method: app, spreadsheet, or cash envelopes

**Flag the common mistakes**
Point out two things first-time budgeters always forget to include, such as annual costs divided by twelve.
</task>

<output_format>
- Numbered steps with brief explanation (40-60 words each)
- Common mistakes: 2 bullets
- Simple example allocation for a GBP 1,800 take-home
- Length: 350-450 words
- Tone: encouraging and practical
</output_format>