Before you can begin to grow your money, you need to have a tool that will help you to manage your money. This is where a budget becomes handy. A budget is a tool that you use to allocate your income (how much money you have coming in) among different savings/expense categories.
A budget is not a one size fits all, and your budget will be unique to you depending on what you have going on in your personal life. Also, your savings/expense categories could vary from week to week, or month to month. A budget is flexible to allow you to add new saving/expense categories or remove saving/expense categories that are no longer needed.
That’s it for this post, short and simple! In the next post, I will share with you WHY you need a budget.