x

The Best Way To Budget

Home »  Magazine »  The Best Way To Budget
The Best Way To Budget
The Best Way To Budget
Rishad Manekia - 28 April 2022
One of the first steps you take when it comes to your personal finances is to manage your cash flows. It’s simple; if you spend more than you earn, then you are in for trouble. This is why it is important for you to be able to track and analyse your spending and savings patterns. Creating a budget and categorising how you spend your money on a regular basis can be an eye-opener. You might realise you are spending on things which may not be a priority for you. So, the first thing that you need to do when it comes to your finances is to create a budget. It does not need to be anything fancy. Take a notebook, jot down your income on one page, and the break-up of your expenses on the next page. If your income is higher than your expenses, you are off to a good start. If not, then start looking for places where you can create room to save. This will help you understand where your money is going. A budget can give you an overall view of your cash flow, and help you identify the necessary and discretionary expenses. That way, you will be able to save money for investing as well as...
Social Media Provides Superficial Knowledge On Insurance
OLM 50: Top Of The League