Why Monthly Budget is Important?

Women manage the finances of the house while also saving for the family. Budgeting helps achieve this goal. 

WHAT IS A BUDGET?

• A budget is a record of your income and expenses. It helps you spend on important things rather than unnecessary things. 

BENEFITS OF MAKING A BUDGET

• It allows you to understand where you are spending the most or unnecessarily. 
• If you have a fixed income, budgeting will allow you to save each month without all the stress.
• Sit down and write your financial goals. Once you have written them down on paper, you will spend wisely.
• It allows you to know where your money is coming from, where it is being spent and how much you have at the end of each month. 
• It shows you what are the important expenses so that you spend accordingly.
• By breaking down all your expenses for the month such as food, education, cosmetics, etc, you will know where you are spending how much.
• This way you can decide how much you want to spend on each expense and plan accordingly.
• Sudden medical expenses, holiday trips, or family functions come up unexpectedly from time to time. 
• It is important that you have money set aside for these types of events.