Understanding the Art of Budgeting
How come I lost track of my spending? Why do I fall short on my saving goals? Why do I end up in debt frequently? A lot of people have lost their sleep over figuring out the answers to these questions. When you think about the ways you might want to spend an evening, you might imagine yourself curled up with a book, watching your favourite TV show or at a restaurant having dinner with friends. The thing is, a few hours of quality time with a spreadsheet and calculator isn’t going to kill the fun. But if you don't make a little time to create a budget, and then promise to stick to it afterwards, your financial goals are likely to go for a toss. As the renowned American personal finance personality David Ramsey has stated ‘ A budget is telling your money where to go instead of wondering where it went ’. Therefore, we got to keep a track of our income and expenses in order to achieve our financial goals. Steps to Make a Budget So if you have decided that you’re going t...