Budgeting 

Controlling your financial affairs requires a budget. For many people, the word ‘budget’ has a negative connotation. A budget is just a schedule of income and expenses, a way of documenting how much money comes in and how it should be spent sensibly. Adhering to a budget is difficult for many people, because it usually means denying cravings and luxuries beyond reach and being disciplined in avoiding impulsive expenditure. Hence, we usually associate budgeting with the idea of belt-tightening and financial ‘dieting’. But, keeping a budget should be part of our daily routine and discipline. Budgeting doesn’t have to condemn you to permanently ‘doing without. Think of a budget as a useful tool for organising your expenses, achieving your financial goals and simplifying your life! Having a positive approach to budgeting will make it easier.

Budgeting also have other benefits:

• You take charge of your finances.
• Your financial records are more organised.
• You can resolve disputes about how money is spent.
• You know what you can afford to buy.
• You can reduce or eliminate debt.