How To Do Personal Budgeting Even If You're Not A Financial Expert

2. How to Do Personal Budgeting Even If You’re Not a Financial Expert Disclaimers for Money Sense World  All the information on this pdf (ebook) - is published in good faith and for general information purpose only. Money Sense World does not make any warranties about the completeness, reliability and accuracy of this information.    From our ebook, you can visit other websites by following hyperlinks to such external sites. While we strive to provide only quality links to useful and ethical websites, we have no control over the content and nature of these sites.  These links to other websites do not imply a recommendation for all the content found on these sites. Site owners and content may change without notice and may occur before we have the opportunity to remove a link which may have gone 'bad'.   Please be also aware that when you leave our ebook, other sites may have di?erent privacy policies and terms which are beyond our control.  Any action you take upon the information you ?nd on this website (Money Sense World), is strictly at your own risk. Money Sense World will not be liable for any losses and/or damages in connection with the use of our ebook. Consent By using our ebook, you hereby consent to our disclaimer and agree to its terms. Should we update, amend or make any changes to this document, those changes will be prominently posted here. Copyright 2021 Money Sense World, All Rights Reserved https://moneysenseworld.com

3. How to Do Personal Budgeting Even If You’re Not a Financial Expert Welcome to MoneySenseWorld! Are you interested in making your money work for you? There are many ways to save money, but it takes discipline and determination to stick with them. We have outlined these tips in this ebook so that you can begin saving today. These tips will help you save more money, pay off debt faster, and invest for your future. You will be on the path to financial freedom if you apply what is written here. Click the button below to learn more how to achieve financial freedom! Or you can visit https://moneysenseworld.com Learn more Copyright 2021 Money Sense World, All Rights Reserved https://moneysenseworld.com

4. How to Do Personal Budgeting Even If You’re Not a Financial Expert Table Of Contents How to Do Personal Budgeting 3 Why is personal budgeting important? 3 4 Reasons To Start Thinking About Personal Savings 4 Things You Must Know About Emergency Fund 6 What is an Emergency Funds? 7 How to Create an Emergency Fund? 7 What If You Have Low Income? 8 When should you start budgeting? 9 How to Know When You Need a Personal Budget 10 Here are some tips to help you know if you need to form a budget. 10 Budget Basics that you should know  12 Some Basic Principles in Budgeting 17 Budgeting tools 17 Budgeting Methods 23 Conclusion 27 Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

5. How to Do Personal Budgeting Even If You’re Not a Financial Expert Knowing how to do personal budgeting is essential if you are aspiring to have ?nancial freedom. You have to take matters into your own hands today. Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. The people who take their ?nancial matters seriously, they become in control of their life. Budgeting only works if you are truthful about your expenses and income. To make an e?ective budget, you must be willing to work a detailed and accurate of your current ?nancial picture. It might be overwhelming at ?rst but as you consistently work and track your progress, it will become easy and you'll feel a sense of personal achievement. You have to take this seriously and be dedicated until you reached your goal. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

6. How to Do Personal Budgeting Even If You’re Not a Financial Expert How to Do Personal Budgeting Because if you don't and do nothing about your ?nances, you will be in the same situation until you retire. If you are having a tough process in your budget, ask for help from your ?nancial advisor or a ?nancial planner. Budgeting is not fun at all, not many people enjoy sitting down and balancing their budget. But the great news is whilst not fun it's worth it! If you are having a tough process in your budget, ask for help from your ?nancial advisor or a ?nancial planner. Why is personal budgeting important? helps you to plan for a better future. Instead of scrambling when it's time to pay for something, Personal Budgeting you'll have all the cash you need. You will see where you're monthly income goes. Without tracking your spending you will end up being broke which might cause missed bill payments.   Budgeting helps you pay bills on time, which saves you money.   Budgeting means you have to stop spending money like there is no tomorrow.   It helps lead to a happier retirement you will be able to properly allocate your income and will have enough for savings.   It will also avoid overspending on unnecessary things that you don't need.   Having a budgeting system or method in place you can easily keep track of all your expenses This will give you a bird' eye view of your current ?nancial situation. Helps You Stop Worrying and Enjoy Your Money More when you know where your money goes, you will be able to predict if your ?nancial goal is achievable. This is like a roadmap of your ?nancial goal without a plan, a road map, you'll be lost. Copyright 2021 Money Sense World, All Rights Reserved https://moneysenseworld.com

7. How to Do Personal Budgeting Even If You’re Not a Financial Expert 4 Reasons To Start Thinking About Personal Savings Do you feel jealous of those who have personal savings? Have you experienced using credit cards on unexpected expenses because you don’t have emergency funds ? If you lose your job today or tomorrow, would have enough saved to cover your living expenses? You probably want a savings account but unable to do so because you don’t know when and how to begin. May you have tried in the past but failed because there’s seems nothing left after payday? Many ?nancial experts and ?nancial planners recommend having a savings account for rainy days. So how do you start? Heres’ some tips for making saving money a part of your personal budget. 1. Get Your Money Working For You- Pay Yourself First Many people felt they can’t a?ord to save money because there seems not enough left over to save after all the bills have been paid. What if you do the reverse? Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

8. How to Do Personal Budgeting Even If You’re Not a Financial Expert Every payday make it a habit to put money in your savings account ?rst, and then tackled your monthly expenses with the leftover? Doing it by percentage might help, let say 10%, of your income. This is not written in stone but you have to start an amount to which you’re comfortable with. This will teach you subconsciously that a $1000 check is actually a $900 only. 2. What To Do With a Windfall of Money Have you ever think or some have ask you how will you spend the extra money? It could be a stash of cash you’ve received from a tax return, a gift, or bonus from work, or in other ways, you get money above and over your usual income. Here’s a tip, do nothing and don’t spend your windfall! But instead, put it in your savings account and use it as needed. Unless you have an emergency need for it right away. Making a habit of putting your windfall of money in a bank is an awesome way to begin your savings. But this requires great disciple and focus especially if this money comes from your bonus. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

9. How to Do Personal Budgeting Even If You’re Not a Financial Expert 3. Reviewingyourbudget Studying your budget is a process of reviewing, adjusting, and ?ne-tuning the amount of money that’s allocated to your di?erent budgeting list. This small but very crucial step will reveal your spending habits and will allow you to see areas that need improvement with your budget. You will also see where you can reduce your spending and save more. Review all the unnecessary things or optional expenditures like dining out, shopping, club membership, entertainment bills and see where you can cut back. Then put that money into savings. 4. Avoid Debt Start paying o? your credit cards monthly so your debt will not pile up. Stay away from using credit cards until you maxed out instead leave your cards at home so you can avoid going into debt. Once your savings are built up you won’t need to dip into your credit cards with unexpected expenses. Things You Must Know About Emergency Fund Copyright 2021 Money Sense World, All Rights Reserved https://moneysenseworld.com

10. How to Do Personal Budgeting Even If You’re Not a Financial Expert A lot of people question the importance of an emergency fund. Is it really needed, after all? How do you go about it? What is an emergency fund? Below are some suggestions and ideas that would help answer these questions. What is an Emergency Funds? Emergency funds are a safety net or funds readily available in unexpected expenses. Hence, its’ called “emergency funds” because it’s for emergency purposes that can be used in the future. This money is saved and set aside that people can use in times of ?nancial distress. The main purpose of an emergency fund is to be ?nancially secured by creating a safety net that can be used in an unexpected event such as illness, loss of job, home, or car repairs. An emergency fund can be a cash or savings in a bank. Generally speaking, an emergency fund is necessary because this eliminates using high-interest credit cards or loans or even tapping to retirement funds. Such funds are a good idea as this will reduce stress in times of need. Having this “cushion” can help you be ready and be calm. How to Create an Emergency Fund? Start by looking and evaluating your expenses. Look for about three to six months worth of your living cost and then count on having much you can set aside for the emergency fund. This can and will help your standard living expenses for the time if you get sick or lose your job, or it can cover a substantial amount such as a home or car repair. Then look into the timeline of how long it will take you to save that much and how much you need to take out of your paycheck each month to reach that goal. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

11. How to Do Personal Budgeting Even If You’re Not a Financial Expert Once you know how much you would need to put away as savings and the timeline of saving it, it’s a great idea to put it in the back of your head to always set aside ?rst for an emergency fund before you pay anything else. If an automatic deduction into your account will work for you then, by all means, go for it. See if putting a certain amount or portion of your income taken out of your paycheck and put into a savings account will work. What If You Have Low Income? It’s not how much you make, but it’s how much you save. So, even with a low income , you can still set aside money each month. Start saving a percentage of your income like 5 to 10 percent. It might take a while but as time goes on it will accumulate and will be worth it. Emergency funds don’t have to be huge – but it should be enough that could cover unexpected expenses. To know your fund size, consider what are sorts of emergencies you would want to cover buy the fund. Evaluate the changes, scope, and the cost potential of possible emergencies and this should be able to give you a better picture of                                                                                         how large your fund needs to be. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

12. How to Do Personal Budgeting Even If You’re Not a Financial Expert When should you start budgeting? A budget is an estimation of income and expenses over a speci?ed future period of time. You’re basically telling your money where it should go instead of scratching your head wondering where it when. The best time to begin budgeting is as soon as you can. Individuals that begin budgeting early accomplish goals such as paying their expenses on time, buying a home, or saving cash for retirement. It can assist you to live within your means but for a lot of people, it’s easier said than done. A guarantees you’ve got money to cover monthly expenses by determining where you may require to budget plan cut back. It can also help you target areas where you can trim costs and also change funds towards more crucial goals. When you maintain a budget, you can avoid spending more than you earn, and you can decrease or stay away from various kinds of debt. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

13. How to Do Personal Budgeting Even If You’re Not a Financial Expert If you are in control of your money, you are in control of your ?nancial future. You will be able to see the big picture of your ?nances. This will also enable you to break the cycle of living from paycheck to paycheck. How to Know When You Need a Personal Budget Do you really need a budget? Are you always behind paying your monthly bills? Do you have money left over for your personal wants once the bills are paid? These are questions that might seem boring list of numbers that you need to answer to determine if you need a personal budget in place. A budget is a way for you to be able to control your ?nances. It means that you spend your money more smartly. This doesn’t necessarily mean that you cannot spend your money on what you want. The fact of the matter is if you are always trying to deny yourself in buying things that you want because your afraid you can’t a?ord them, then a budget could set you free. It is stressful to deal with real numbers than dealing with a rough estimate of your income and expenses. Here are some tips to help you know if you need to form a budget. 1. Your credit cards and other debts are never paid off. Always paying a minimum balance on your credit cards and/or using one credit card to pay o? another. This is an indicator that you need to work on your budget to get out out of that hole. 2. Money "burns a hole" in your pocket. When you have available money, you will become very eager to spend it one becomes very eager to spend it. You are too quick to spend the money to spend on what you want instead of needs. It’s like having money for a brief moment then it's gone. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

14. How to Do Personal Budgeting Even If You’re Not a Financial Expert 3. No precise and consistent amount on how much or when you put money into your savings. No consistent amount on how much or when you put money into your savings One of the most important features of ?nancial management is having a saving plan in place. If you don’t have a controlled plan putting money into savings – 10% of your net income always go to your savings as an example or other extra money you received like all bonuses from your work going straight to savings then, your savings will fade as you keep spending on things you want. 4. You don't have a savings account at all. This should be one of your priorities with your budgeting plan. If you don’t have an emergency fund or any savings it is a good sign that you need a budget. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

15. How to Do Personal Budgeting Even If You’re Not a Financial Expert 5. You're always saying, "I can't afford it." Have you been in a situation that your co-worker asks you to go out for lunch, or your friend asks you to go to an event, and you always say “I can’t a?ord it”? This maybe true or not; but establishing a budget will help you identify what you really can and can’t a?ord. 6.Feel like you never have enough money Money can be deceiving- what seems like “a lot” can suddenly turn to be not enough. Creating a budget can help you grasp on what you really have. You may be happily surprised that you have more than enough, or that it’s realistic to make cuts so that you’ll have enough. Budget Basics that you should know  Thinking about but are not sure where to begin? Occasionally its begin with basics, such as personal budget outlining the budget and categories you want to include. Here are some tips the will assist you to create a simple budget. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

16. How to Do Personal Budgeting Even If You’re Not a Financial Expert Income The ?rst place to begin in the outline of your budget is with your take-home pay. It’s ?ne to do an estimate no doubt; but ensure it’s an estimation, not dreaming says some of the experts. The income area of your budget is not the place to put down ideas. Look at your net income over the last three months and estimate average monthly income. Otherwise, you might have income that changes month to month. This should therefore be easy to ?gure out your monthly income. Your income should be the very ?rst thing on your spreadsheet. Include all that you may have like paychecks, commissions, alimony or child support, bonuses from work, and other forms that may come only once a year such as gifts or tax refund. Expenses When you break down your expenses in more understandable numbers and categories, keep in mind that charitable giving of money should be listed as well as expenditures. Expenses monthly are the next thing you should add to your spreadsheet or whatever tools and apps you use for budgeting. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

17. How to Do Personal Budgeting Even If You’re Not a Financial Expert Expenses monthly are the next thing you should add to your spreadsheet or whatever tools and apps you use for budgeting. Include utility payments, credit card payments, loan payments, and everything else that comes up every month. Record the monthly amounts and due dates so you can place these items under your income that comes monthly. The yearly expenses can be a bit challenging to include, but it’s a great idea to do it. This will enable you to overcome the stress of coming up with money when they come up due each year. This simply means that you’ll need to make a spreadsheet for each month for the whole year so you can include this kind of expense. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

18. How to Do Personal Budgeting Even If You’re Not a Financial Expert Keeping a general category as much as possible is a good idea while preserving clarity. Or else, you might get overwhelmed and confused by all the splitting. For instance, instead of having paper products, food, vitamins, etc.” as categories, you can total all those expenses under groceries. Here are some suggestions for categories: Expenses   Charitable giving   Payment o? debt   Home (mortgage, rent, property tax, insurance, repairs, etc.)   Vehicle   Utilities   Health Care   Birthday and Christmas gifts   Cushion (this is money set aside to o?set surprises, mistakes, or unexpected expenditures)   Personal (eating out, hair appointments, etc.) Actual Expenses An estimation will give way to “true or real” numbers when you jot down your actual expenses during the month. This will be the very last section of your budget plan. Have a running tally of your expenses for a few months and then look at where you are. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

19. How to Do Personal Budgeting Even If You’re Not a Financial Expert Extra’s This is hard to budget for which is why you should try to plan on them each month. Setting aside money into a savings account can de?nitely help you to have the money readily available when the time comes. It’s also impossible to plan for an emergency expense such as car repairs, so savings will ease the burden when things like this come up. You can plan up with expected expenses like vehicle maintenance and yearly doctor’s checkup so planning ahead will help. Vacations It is di?cult to plan for a vacation but when you do your budget correctly you will be able to include this in your monthly budget. Your saving accounts will play a big role with this plan as well. You’ll see where you have an extra money so you can take a vacation when you’re ready to take one. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

20. How to Do Personal Budgeting Even If You’re Not a Financial Expert Some Basic Principles in Budgeting In budgeting, some principles are considered basic. Here are some of them. * Identify between wants and needs. This is a di?cult one, but it’s important for a budget to work and function properly. Just beware of convincing yourself that a “want” is a “need” when the truth is it isn’t. You may just ?nd an excuse to buy the item. Real needs are the basic necessity like food, shelter, clothes; but gourmet food, designer clothes are more like wants. *Expenses should not at all be greater than income. You’ll be surprised the ?rst time you do a budget and ?nd out that you don’t actually make enough money to cover all your expenses. If you discover this, you need to look carefully at you monthly income section of your budget and see where you can improve it and make a cut o? your expenses somewhere. Budgeting tools Budgeting tools can be in a form of an app or software that helps you budget, plan, and portion out your personal spending. There are new budgeting tools that are popping up all the time. These new technologies in most cases make our lives easy special in our ?nances. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

21. How to Do Personal Budgeting Even If You’re Not a Financial Expert Here are some of the budgeting software that might help you in making your budgeting easy and simpler:   Good Overall: You Need a Budget   Good for Couples: Honeydue   Good for Beginners: Mint   Good Free Option: Goodbudget You need a budget (Good Overall) is a good overall option simply because it has both ?exibility and features that make it You Need a Budget (YNAB) worth the monthly price. Yes, you’ve heard it! It's not free but it guides you to a more straightforward plan with your expenditures.   You can link your accounts or manually enter transactions.   Real-time information is always available from any device.   Set goals and can customize categories in spending.   Subscription fees of $11.99 monthly or $84 annually.   Some real users noted that it takes longer to set up than other apps.   The learning curve is steeper compare to other budgeting apps. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

22. How to Do Personal Budgeting Even If You’re Not a Financial Expert Despite some of the drawbacks, it’s one of the best budgeting apps out there in controlling your money because it provides you the tools to make a concrete spending plan. One of the best features of YNAB is instead of a traditional way of budgeting buckets customers allocate every dollar they earn to something known as the “zero-based budgeting system” where none of every dollar is accounted for. Every money that you’ve earned has an assignment or a “job” whether going towards investments, bills, or savings. The program will help you through the process of allocating your money so you can spend wisely. You can customize the reports and the goal tracking features, which by the way include some graphs and charts which will help you monitor your progress. YNAB also gives comprehensive training videos, free online workshops, and real-time updates so you know where your money goes. Honeydue For couples, Honeydue might be a good option. It is geared towards helping you manage your budget with a partner. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

23. How to Do Personal Budgeting Even If You’re Not a Financial Expert You can link both your accounts and make customization that you share with your partner. This makes it easier for both of you to see about money issues directly through the app. You can set noti?cations alert of any of your upcoming bills to pay which points you to better money management.   No monthly fee   Have control over how much information in your account to share with your partner.   Automatically categorized the transactions.   You can customize alerts for upcoming bills and overspending.   This can only be downloaded on Android or IOS and no desktop app.   Not much ?nancial education available.   Reporting features are very few that will not allow you to see the big ?nancial pictures. Honeydue app is focused to help partners or couples to manage their ?nances where its main feature is on joint communication. Financial information can be shared by one other about their money by letting you see your partners' transactions. You can reply on a transactions note with an emoji, thumbs up. This app also makes tracking very easy by categorizing automatically all the transactions. Honeydue will also enable you to add your custom categories. And even though there are fewer options in reporting than other budgeting tools or programs customizing an alert will help you that nothing will be missed. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

24. How to Do Personal Budgeting Even If You’re Not a Financial Expert Mint If you’re a beginner Mint might be a good option for you as it combines all your accounts in one centralize place. This app will also help you to track your net worth and has add-ons like access to your credit score. Mint is very easy to use in budgeting for beginners because this will allow you to link your accounts and lets you see how your spending compares to the national average.   This software is free and easy to use.   The software dashboard shows your accounts in one place and tracks your net worth.   It automatically categorized your transactions.   Limited in some options like goal setting.   Some user says the account syncing is slow.   There’s a bunch of ads. Like what I’ve mentioned above, this completely free. Another feature of Mint is a choice of preset option. And even though you can specify a customized saving goal, there doesn’t seem to be a way to set mortgage pay-o? if this is one of your goals. You’re limited in what you can choose for goals. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

25. How to Do Personal Budgeting Even If You’re Not a Financial Expert Goodbudget For me, the best free option is as it gives you the capacity to use the envelope budgeting method Goodbudget virtually without paying any fees for the budgeting software. All your bank transactions can be imported manually and be able to see Goodbudget’s pie charts to see how is your money is allocated.   Free version gives you powerful features.   Very simple to comprehend charts and graphs to make it easier to monitor your spending habits.   You can use this app on any device and moving money between envelopes is fast and easy.   Unless you pay a monthly fee, the envelopes are very limited in numbers for free members.   You have to manually sync your accounts. There’s no automatic option.   Another cons is that there’s no automatic option to categorize transactions after importing your account information. This app or software was derived on an Envelope budgeting method where your cash is divided into di?erent envelope spending categories. Goodbudget is a digital method of the Envelope method. They have a free and paid version. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

26. How to Do Personal Budgeting Even If You’re Not a Financial Expert Budgeting Methods Below are the di?erent types of budgeting methods and explained brie?y how each technique works. 1. The Traditional Budget The traditional budget is the most common way of budgeting. This come’s to people's minds automatically when they start making lists like income, expenses and calculate the di?erence with the hope that you make more than what you spend. Then, setting a goal is the next stop. How much will your budget on each of the categories such as rent, car payment, food, gas, insurance, and entertainment? Very simple and straightforward. If you are not a detailed oriented person and don’t have much time in your hands, this might not be the best ?t for you. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

27. How to Do Personal Budgeting Even If You’re Not a Financial Expert 2. The 50/30/20 Budget This budget plan is simpli?ed where your expenses are broken down into three simple categories: needs, wants, and savings. So the calculation goes like this, the 50 percent of your income (tax deducted) should go to your needs, then the 30 percent will be allocated to your wants, and lastly, the 20 percent will go to your savings account for rainy days. This type of budgeting method can be tricky on the “wants”. If you don’t de?ne your “wants”, this could be catastrophic. Same with your “Needs”, this includes only the necessities. For example, when you are in a grocery store and buying your needs, but some things or items can fall into a “wants” category. As fruits and vegetables are a need, while ice-cream you buy is a “want”. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

28. How to Do Personal Budgeting Even If You’re Not a Financial Expert 3. The 80/20 Budget With this strategy, you just need to separate your savings and then used up the rest of your money for spending which makes much simpler than 50/30/20. 80/20 method You should save a minimum of at least 20 percent and this should go to your retirement or emergency funds. The rest of your income which is the 80 percent can be used in car or house repairs, and other ?nancial long-term goals. You are not tied in the 80/20 rule, you can modify as you go along. For example, 70/30, or even 50/50. It all depends on how comfortable you are with your money if you chose to save more. The great thing about this budgeting method is once your savings are established, you don’t have to worry about where the rest of your money will be allocated. 80/20 budget is also commonly known as Pay Yourself Budgeting method. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

29. How to Do Personal Budgeting Even If You’re Not a Financial Expert 4. Envelope Budgeting method This budgeting method or system is sub-divided into 4 di?erent spending categories. Like bills, gas, groceries, shelter, tax, and so on. Once you know and have decided the amount that you’ll be allocated to each of the spending categories, you will take those amounts in cash and put them in an envelope. Hence the name of the method “Envelope Budgeting”. The goal here is to stop you from overspending by limiting of what is available money you set aside. The principle still works in our modern and digital era where a lot of people don’t pay with cash anymore. This can be budgeting method can still be applied by using an app or software or any other ?nancial technology. The best thing about this method is that it aligns you to stay on your spending habit lanes because once the envelope is empty, you can't spend any more on that category until the next paycheck. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com

30. How to Do Personal Budgeting Even If You’re Not a Financial Expert Conclusion You don’t have to see the whole staircase, just take the ?rst step. In every undertaking, there's always a process and budgeting is no di?erent. You have to start with a plan because without it failure is certain. Many people are not doing budgeting and if they do, they're not committed as it is di?cult. Perhaps it's for an obvious reason, budgeting is tedious and self-discipline is a drag. Like what I've mentioned above, there's a step-by-step process in planning a budget. Having control over your personal ?nances will open up investment and saving opportunities for retirement. Personal budgeting will enable you to be ?nancially secured. Copyright 2021 Money Sense World, All Rights Reserved  https://moneysenseworld.com