SPONSORED CONTENT -- (StatePoint) According to personal finance experts, it may be time to rewrite your relationship with budgeting, particularly if your associations with the task are negative.

“Budgeting isn’t about having less—it’s about making more of what you have,” says David Chubak, principal, head of Wealth Management & Field Engagement at Edward Jones. “When executed effectively, it’s the roadmap that turns financial chaos into clarity.”

To help you align your finances with your goals and values, Edward Jones is sharing these budgeting steps:

Track income and expenses: Discover what’s being earned and what’s being spent. To get a clear picture, consider delving into detailed spending categories, such as housing, groceries, childcare, entertainment, savings and debt. Be sure to factor in annual and semiannual expenses like insurance premiums. Whether you use a spreadsheet, a list or an app, remember that the most important thing is consistency, so find a tool that will make you stick with the habit.

Use the 50/30/20 rule as a guide: Not sure how to appropriate your money? Many financial advisors suggest the 50/30/20 rule as a guide. This means using 50% of your income for needs, 30% for wants and 20% for savings and debt repayment.

Set your initial target budget: You may learn that your current spending exceeds your income, or that it’s not allowing you to achieve your financial goals. If this is the case, look for budget items that could be cut or swapped for less expensive alternatives. To make additional room in your budget, you could also generate more income by pursuing a side hustle, seeking out a higher paying position or asking for a raise. If you’re still not balancing your budget after these measures, it might be time to reprioritize your goals.

Build an emergency fund: Even a solid budget can be derailed by unexpected circumstances. Be sure that your budget includes a line item for building an emergency fund to prepare you for everything from job loss and housing repairs to medical expenses. After you’ve amassed what you’d need to weather three to six months of a financial emergency, leave this rainy-day fund untouched and concentrate on other budget items, such as paying down debt or investing.

Monitor your budget: Schedule periodic check-ins to ensure you’re staying on track and that your initial budget was accurate. For example, if you missed an annual subscription fee or miscalculated an expense, now’s the time to make adjustments.

Review your budget: Every three to five years, review your budget to see if it still makes sense or whether a redo is necessary. You should also do a budgetary pause and reset after major life changes, such as marriage, divorce, birth or the loss of a loved one, or when there are big changes to your income and expenses. For example, you should complete a budget overhaul after events like a home purchase or big promotion.

For more budgeting tips, or to connect with a financial advisor who can work with you to review your finances and create a budgeting strategy that allows you to reach your goals, visit edwardjones.com.

“Budgeting can be hard work, so make it enjoyable. Whether you’re tackling the numbers solo or with a partner, pair budgeting with something you enjoy, like a nice meal at home or your favorite treat. And be sure your attention is focused not only on budget cuts, but also on what goals and priorities you’re working toward,” says Chubak.

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