Creating a
budget involves tracking your income and expenses to ensure financial stability. Start by listing all sources of income and monthly expenses (fixed and variable). Categorize expenses into needs and wants, then allocate a portion of income to savings and debt repayment. Use tools like spreadsheets or budgeting apps for better tracking. Review your budget regularly, adjust as necessary, and set realistic financial goals to stay on track. This method helps control spending, save for future needs, and avoid financial stress.
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