How do you know how much money you have and whether you’re spending it on the things that matter to you? How do you make sure you’re paying down your debts at the right pace? By doing a budget.

In this video recorded from a live Google Hangout, nationally syndicated personal finance columnist Michelle Singletary explains how to do a budget for your finances, walking through the spreadsheet that she recommends and answering questions about how to make it work for you.

She also introduces you to Grumpy the monkey. You’ll have to watch the video to find out what he’s all about.