Some people prefer Excel spreadsheets or apps to manage their expenses. Others grab a pen and paper and do it the old-fashioned way. Whatever your style, just make it a habit.
Setting up a budget means you are less likely to end up in debt, it also means you are in a great position to save up for a house, holiday, a new car, or emergency.
To get started on your budget, you’ll need to work out how much you spend on household bills, living costs, financial products (insurance, stock etc), transportation, leisure family and friends.
Once you are sure of everything you have to spend money on, allocate the amount needed. If you’re spending more than you have coming in, you need to cut back on some things and think of getting a side hustle.
It really takes a lot to actually budget, and stick to it.
All those apps don’t work for me. I just grab a pen and write. I write what i need to do, spend or what i have spent already. That way, it is easy for me to reconcile.
Sure, budgeting is good. Sometimes we tend to spend more than we can imagine. Its risky