Even though some people might cringe at the sight of the word budget, its main goal is to help you keep money in order to achieve goals.
A basic budget consists of:
→ Spending categories.
→ Tracking your expenditures.
→ Monitoring your progress.
Your chances of being financially successful increase substantially once you put a budget in place.
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Reference: Personal Finance 101 by Alfred Mill and Michele Cagan. Adams Media, 2020