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22026 Jesus Andres Sanchez

Finance, we see budgeting as an opportunity to help you make your money work smarter. By helping you understand exactly where your money’s goingyou’ll have greater awareness and understanding of your financial position.

Attitude to money
how important is money to you?

Self evaluate how you feel about finance.

Are you

Conservativeand cautious? (buy now, pay later)

Comfortable with money?

Worried about money?


The budget formula

Income – expenses =balance = can be

Surplus(positive amount) orDeficit (negative amount)

It helps you identify where your money is going and sometimes this can be rather revealing! In essence, budgeting involves planning ahead of time so that when you get atelephone, gas or electricity bill, you don't feel you have been "hit" by them.
Rather budgeting enables you to anticipate such mundane expenses and requires that you prioritise your wants. It gives youcontrol of your money, rather than letting it control your choices.
Personal Finance-10 Tips on How to Budget Effectively
A lot of people have trouble making a budget, more so sticking to one.However, it doesn’t have to be this way always. People have trouble budgeting their money either because they have too little of it or have too many wants to satisfy. In the end, however, the same peoplewho have trouble budgeting are the same ones suffering from a wide range of financial problems. To avoid being one of these people, here are several tips on getting good budget know-how.
1. Remember,Budgets are Necessary – A budget is important because it is a practical way of getting a grip over your spending. It will show you if you have indeed used the money for the purpose it was intended tobe used for.
2. 3 Steps Are Required to Budget effectively – First step is to identify your present spending habits. Next is to evaluate these habits against your long-term financial objectives....
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