Did you know the average savings rate in the U S was just in June This low figure shows we really need to manage our money better We'll look at budgeting setting financial goals and using the rule to succeed financially but first let's understand Expenses vs Income Managing Your Money Wisely Key Takeaways The budget rule advises allocating of after-tax income to needs to wants and to savings Building an emergency fund is crucial for financial stability start by setting aside from every paycheck Utilize automatic transfers to savings to enforce regular savings habits and help your savings grow automatically Prioritize setting savings as a fixed expense every month or two weeks starting with small amounts that can accumulate over time Adopt the rule to maintain better money management prioritize vital expenses emphasize savings goals and work towards long-term financial security Understanding the Basics of Budgeting Budgeting is key to managing your money well It's a plan that shows your income expenses and what's most important to you With a budget you can see how you spend find ways to save and focus on your big goals What is a Budget A budget tracks your money coming in and going out It's like a map to financial stability It helps you make smart choices about spending and saving The Importance of Budgeting Budgeting is crucial for financial security and reaching your goals By following budgeting basics you can https youtu be qUZ sF jYY feature shared Find ways to... Login to read full