Recent statistics show that the average credit card debt per borrower hit in Q of This is a clear sign that we need better ways to manage our money Budgeting is key to solving this problem It helps you reach your financial goals avoid spending too much and get ready for surprises Purposes of Budgeting Guide What You Need to Know Key Takeaways Budgeting is a personal spending plan that accounts for estimated income and expenses Budgeting helps you practice money management keep spending in check and ensure savings are on track Budgeting can assist in setting long-term financial goals preventing overspending and preparing for emergencies Budgeting provides visibility and control over finances leading to informed money decisions and reduced financial stress Regularly reviewing and adjusting budgets is key for keeping financial discipline and achieving long-term success Introduction to Budgeting Definition and Importance of Budgeting Budgeting is making a plan for how you'll spend and save money It means tracking your income and expenses to stay within your means This helps you reach your financial goals It's key for financial stability reaching long-term goals and understanding your spending By sticking to a budget you can better manage your finances and get closer to financial freedom Budgeting is very important It helps you find ways to spend less save enough for your goals and avoid financial trouble With a budget you can control your money better and make smarter choices about how to use it A budget is telling your money... Login to read full