Personal Budgeting and Saving

Personal budgeting is the process of creating a plan to manage your income and expenses effectively. It involves listing all sources of income, then outlining fixed and variable expenses. The goal is to ensure you spend less than you earn, allowing you to save money for future needs or goals. Saving involves setting aside a portion of your income regularly to build an emergency fund, save for major purchases, or invest for future growth. A well-structured budget and consistent saving habits can lead to greater financial stability and help achieve long-term financial goals.