Budgeting
Trying to manage your personal finances without a budget is like taking a road trip without a fuel gauge, road signs, or a map. You will soon run out of gas and be stranded since you cannot tell how much you have in the tank, how much farther you have to travel, or how to know when you reach a destination. The good news is that creating a budget is easy. All you need to know is two things. You need to know how much money you have to spend. You need to know what expenses you need to pay. But most people never track their spending, according to a recent survey from the Certified Financial Planner Board of Standards. More than half claimed to have a budget, but all they really had was checking account and credit card statements, plus piles of receipts. That’s better than nothing at all, but what you really want is a system to precisely track your spending. To simplify the process, you can use an online tool or app. There are many, but one of the most reputable and popular