I always advise that it is imperative for us to regularly analyse our household budget to observe if all is well. We do this by drawing a personal income statement showing all the income we have received and the amounts we spent every month and analyse them. To make the process easier, we can print out our bank statements for past 3 months and capture these transactions..This then makes it easier to save, clear debt and create a budget for unexpected expenses.Indebted persons rarely have a habit of keeping a household budget or analysing their income statement. As a result, money is spent impulsively, without a priority or plan. Lack of control over the budget is one of the factors of making hasty and irrational financial decisions and, consequently, the reason for getting into debt.Do you track your spending or keep budget regularly? We would like to hear your budgeting story.
I always advise that it is imperative for us to regularly analyse our household budget to observe if all is well. We do this by drawing a personal income statement showing all the income we have received and the amounts we spent every month and analyse them. To make the process easier, we can print out our bank statements for past 3 months and capture these transactions..This then makes it easier to save, clear debt and create a budget for unexpected expenses.Indebted persons rarely have a habit of keeping a household budget or analysing their income statement. As a result, money is spent impulsively, without a priority or plan. Lack of control over the budget is one of the factors of making hasty and irrational financial decisions and, consequently, the reason for getting into debt.Do you track your spending or keep budget regularly? We would like to hear your budgeting story.