A budget is a financial plan for spending; not a bookkeeping chore of keeping track of China M6 Clips Suppliers every penny. In technical terms, budgeting is the systematic allocation of one’s limited resources (income and liquid assets) toward a potentially unlimited number of needs and wants (expenses).
One way to prepare for the unexpected is through budgeting. How many times has this happened to you? Just when you think you finally have some breathing room in your budget, an unexpected expense comes along and wipes it out. Let’s face it: Nothing in life ever goes exactly as planned. To put it simply, budgeting is merely balancing your outgo versus your income.
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And that goes double for money matters.
Unfortunately, the word "budget" -sort of like "diet" or "economize" -- has negative connotations. Although sometimes tedious and difficult to stick with, smart budgeting can help you better control how your income is being spent - leaving you with more money to invest or put away for those inevitable rainy days.