MORE IDEAS FROM THE ARTICLE
As a personal financial planning tool, a written, monthly budget allows you to plan for how you'll spend and/or save your money each month and also keep track of your spending patterns.
With a budget, you can begin to prioritize your spending and better manage your money and financial future.
It breaks down your budget categories into three broad segments:
If there is heavy credit-card debt, the financial goals should be 30% and non-essential spendings only 20%.
Budgets are necessary for running any business efficiently and effectively.