Creating a Time Budget

Do you find that juggling family life, work and school difficult?  Try two businesses and lets not even discuss hobbies.  I am not sure how this is all going to work.  I have been counseled to create a time budget... but I am not very good at budgets!  After my first week in Graduate studies, it seems like this might actually require the 10-20 hours a week to do the job with excellence.  Carving this time out of an already busy schedule will be challenging, but not impossible.... who needs sleep anyhow.. .they say we can sleep when we die!  lol...