To take control of living, purpose is required
To take control of spending, budgeting is required
Expenses will never cease to occur because human wants are insatiable, one way to have this in control is through budgeting which can also be tagged spending plan to help improve financially, save, invest, and keep track with the financial goal.
Budgeting plays an important role in how firm we stand financially and how worthy of how net worth becomes it is one easy way to track expenses and income and also a discipline over needless spending.
There is a need to make a budget one time or the other because that way takes control over spending but as important as it is to make a budget so are also factors to be considered in budgeting which include.
NEED
priorities are important and that is why need is different from want,
Needs are basic things and necessities.
needs are to be considered when budgeting because they are things that we can't do without and are required, they play a huge role in how comfortable and stress-free we get as individuals.
In making plans of spending and receiving they are to be considered as a high priority.
INCOME
You only get to plan on what you receive or see and how firm budget becomes depends on what you receive.
Incomes determine how long the budget gets to be,it's one important factor to be considered in making budgets.
INFLATION
There's always a change in price levels of goods and services and a rise in the price level of goods takes a huge effect on how spending is to be done which balls back to an effect on how plans have already been made before the rise.
Inflation is to be considered in making a budget because a rise in prices levels will have a hit on expenses
Everyone wants to be in control when it comes to spending but then expenses sometimes deprive that, budgeting help us one way or the other to be in control over finance and have a stable financial life.
To budget is important but considering factors attached to it also is crucial
Here is a response to have leaner week 8 topic about budgeting
Needs are usually the first thing we should take care of when making a budget. We can do without things like going to the cinema or buying an extra bag (these are all wants) but things like shelter and food are very important, they are part of our basic necessities
Basic need because we need them, you are right.
Thank you for dropping by
Every budgets without inflation in mind brings frustration, that is why we should have our miscellaneous as part of our budget.
Price will always go and come down it's important
Thank you for dropping by
That first quote though, I love it and I agree with it so much.
Those three factors are what I also look into when I make budgets, I guess those are the majors and nothing more.
With all these in mind, one is bound to make a good budget indeed.
Yeah and financially it becomes easy.
Thank you for dropping by.
Budgeting is always a wide topic and deep too. I just hope we get to apply some (if not all) of it in our lives.b
Yeah you are right to apply to our lives.
Then we track our expenses and income in a good way.
❤️❤️
Budgeting plays an important role in all of our lives and through it we can stop our extravagances and save more.
Anyway very well written and thanks for sharing with us
Budgeting is necessary thank you for dropping by.
This one right here
Apt 👍🏻
Thank you for dropping by
Using a budget is a must these days, you didnt mention whether you used one yourself though?
My bad lol I do obviously,
With the persistent rise of things in my country and cost of living a budget is a must .
I never used to budget, but now with less money and rising prices I have to budget.
Do you?
Came in via dreemport tonight;)
Now you made the right choice..that cool I budget too helps me keep track of my expenses
I think with today's rising prices of basic necessities and all, people are forced to budget their finances.
!PIZZA
PIZZA Holders sent $PIZZA tips in this post's comments:
@ifarmgirl(2/5) tipped @ijohnsen (x1)
Join us in Discord!