IF YOU DON'T FIND A WAY TO CONTROL YOUR MONEY, YOUR MONEY WILL CONTROL YOU!

The reason why you keep living paycheck to paycheck, why you keep getting into one debt after the other, why you're not growing financially, why you're experiencing financial hardship is because you're not taking charge of your finances, and to help you on that is why I'm writing on Budgeting.

With the knowledge of budgeting, you'll learn;
• To put your finances in 100% check and
• How you can easily achieve your financial goals and wishes.
However, It's very important you know that the lifeline of a budget is inflow (revenue).

If you do not have a certain source of revenue/income, budgeting would be useless to you. Your income could be monthly allowance, salary, profits from your business etc, as long as it is certain. Because that's how you can be capable of taking care of your expenses and contingencies.

Now, Budgeting is defined as the process of creating a plan for your finances, outlining your expected income, expenses and cashflows over a period of time.

A budget is a financial planning tool that can profitably be engaged to guide you towards achieving your goals.

HERE'S WHY YOU NEED A BUDGET
1. It helps you take control your money, instead of your money controlling you.
2. It helps you achieve your financial goals; whether it's paying off a debt, or saving up for a vacation.
3. Budget provides a framework for decision making.
4. It helps you reveal areas where you overspend and refocus on more important areas.
5. It helps you live within your means, so your spending doesn't exceed your income.
6. Budget guides you towards your financial goals, whether you're on track or not.
7. It helps to reduce financial stress, anxiety and despair.
8. Budget helps you prepare for financial emergencies and unexpected circumstances (expenses).
9. Creating a budget requires discipline and self-control, which can lead to improved financial habits.
10. Budgeting helps increase communication in relationships, if you share your finances with a partner.

This is Part01, on my next writeup, I'll be sharing with you practical procedures to prepare a budget.

Julius Kuyoro

That’s it, if you need more clarifications about anything I’ve said above, you can hit me up on whatsapp: 09067076406

Your article is rich and very helpful, but what of a case wherein unforseen circumstances arise, you know fully well that the case of budgeting don't really apply in this regard.
Anyway i enjoyed the write up and indeed learnt useful insights. Thank you.

InvestorNBA:
IF YOU DON'T FIND A WAY TO CONTROL YOUR MONEY, YOUR MONEY WILL CONTROL YOU!

The reason why you keep living paycheck to paycheck, why you keep getting into one debt after the other, why you're not growing financially, why you're experiencing financial hardship is because you're not taking charge of your finances, and to help you on that is why I'm writing on Budgeting.

With the knowledge of budgeting, you'll learn;
• To put your finances in 100% check and
• How you can easily achieve your financial goals and wishes.
However, It's very important you know that the lifeline of a budget is inflow (revenue).

If you do not have a certain source of revenue/income, budgeting would be useless to you. Your income could be monthly allowance, salary, profits from your business etc, as long as it is certain. Because that's how you can be capable of taking care of your expenses and contingencies.

Now, Budgeting is defined as the process of creating a plan for your finances, outlining your expected income, expenses and cashflows over a period of time.

A budget is a financial planning tool that can profitably be engaged to guide you towards achieving your goals.

HERE'S WHY YOU NEED A BUDGET
1. It helps you take control your money, instead of your money controlling you.
2. It helps you achieve your financial goals; whether it's paying off a debt, or saving up for a vacation.
3. Budget provides a framework for decision making.
4. It helps you reveal areas where you overspend and refocus on more important areas.
5. It helps you live within your means, so your spending doesn't exceed your income.
6. Budget guides you towards your financial goals, whether you're on track or not.
7. It helps to reduce financial stress, anxiety and despair.
8. Budget helps you prepare for financial emergencies and unexpected circumstances (expenses).
9. Creating a budget requires discipline and self-control, which can lead to improved financial habits.
10. Budgeting helps increase communication in relationships, if you share your finances with a partner.

This is Part01, on my next writeup, I'll be sharing with you practical procedures to prepare a budget.

Julius Kuyoro

That’s it, if you need more clarifications about anything I’ve said above, you can hit me up on whatsapp: 09067076406