BUDGETING

What is budgeting?

It is the process of allocating various resources to identifiable areas of your necessities, in your life or an organization.

Purposes of budgeting.

On your financial journey budgeting is a crucial practice that allows to adopt some basic money habits.

1:Helps you to keep truck of your spending

2:Assist in setting and achieving of financial goals.

3: Helps you to keep truck of your progress in your journey to financial goals.

4: Helps to identify the cutting points and improvement of your savings.

5: It will assist you in emergency preparation techniques.

6: Allows you even to come up with other plans e.g retirement plans and investments as well.

NOTE

Tracking your spending habits, building investments, planning for the future,increment on your savings and constant reviewing of progress helps you to attain financial stability.