BUDGETING 101 :- how to allocate your budget
Budgeting 101: A Beginner's Guide to Mastering Your Finances https://youtu.be/4XKc4x_dXm0?si=PdDUv84ygV3jA0sF Managing your money can feel overwhelming, but budgeting is the key to financial freedom. Whether you're just starting or need a refresher, this guide will help you understand the basics of budgeting and how to take control of your finances effectively. What is Budgeting? Budgeting is the process of creating a plan for how you’ll spend and save your money. It helps you track income, control expenses, and set financial goals. Think of a budget as your financial roadmap—it shows you where your money is going and ensures you’re making the most of every dollar. Why is Budgeting Important? A well-planned budget can help you: Avoid overspending and debt Save for future goals Reduce financial stress Prepare for emergencies Build wealth over time Step-by-Step Guide to Budgeting 1. Determine Your Income Your income includes your salary, side gigs, passive income, and any other m...