You need to spend less than what you make. That's it.

I like to see this at different frequencies.

For example, salaries are usually calculated annually but I calculate how much money I make per hour, day, week, month, etc.

Then I also calculate every expense I have per day, month, year, etc.

Then it is easy to see where I should cut down and where I can spend more on.

So, yeah, I do have a budget.