Top Five Tips to Setting a Budget You Can Live With - Introduction

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By AnnaMaria Andriotis, SmartMoney.com

LIKE MANY NEW YEAR'S resolutions, sticking to a budget is extremely difficult. In fact, even just a few weeks into the new year, you can easily find yourself going off-course. That's why it's important to be realistic about the expenses you expect to incur.

Ideally, you should begin the year with an annual budget -- consider this the master plan -- and then, as the year progresses, draw up a budget for each month before the previous one ends, says Judy Lawrence, author of "The Budget Kit." That way, you can revisit certain expenses and revise accordingly. To help you put together your budget for 2008, here are some things that you should definitely consider: