Building and maintaining a budget helps in personal finance success.
This seems very practical and easy to do, however, like most things in personal finance, It’s easier said than done.
Many people begin to budget their finances using a template spreadsheet that track their monthly income and expenses.
While this is helpful, it doesn’t show you the entire financial picture.
I prefer to use a personal financial statement which includes a income statement and a balance sheet, and the practical philosophy to pay yourself first, that is , to dedicate at least 10% of the income to saving a/c, investing a/c and charity a/c each.
Budget is a roadmap to your secure financial future.
Personal finance is about more than managing your money, so you can meet your financial goals, and budget is the most important step to be applied on your way to financial freedom.
This video help you to decide a roadmap for your personal finance budget basics.