What is a budget?

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.

2 Comments Add yours

  1. margaret tummings says:

    HI, am Margaret Tummings from Jamaica and I must tell you that I found the information very interesting. Budgeting on a Monthly basis is a part of my life so please keep me a breast of your update.

    Like

    1. jamaicancpa says:

      Absolutely I will! Thank you for the feedback!

      Like

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