Budgeting Your Life provides instructions for creating a personal budget. It defines key terms like income, debt, and budget. It instructs the reader to make a list of all income sources and debts, separating debts into amounts past due, currently due, and monthly payments. With this information, it explains how to structure a budget by appropriately distributing income among debts, prioritizing paying off current and past due bills first before saving and investing. Readers are encouraged to ask for assistance if needed.