Whether you’re planning your first budget or re-evaluating your current budget, the ground rules listed below will set you up for success by changing the way you look at budgeting. It doesn’t matter if you manage your budget on your smartphone or if you prefer good ol’ pen and paper—these budgeting basics can be applied to every budgeting system.

An emergency fund is an essential part of your personal finances. Its importance is stressed in almost every personal finance book and budgeting blog.

If an emergency fund is, in fact, so important, why doesn’t it seem that way? Why do so many put off contributing to an emergency fund?