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Budgeting is simply an organised way of
managing your finances. Write down all your expenses for
the week or the month or the year and then assess
whether the total of your income from work or government
assistance, your savings and any contribution from your
family, for the same period, will allow you to meet
those likely expenses.
Distinguish between what you want and
what you need:
You will save a lot of money if you don't mistake
wants for needs. Needs are--those items that are
necessary to sustain: Shelter, food, clothing,
transportation. Wants just enhance or maybe improve your
family life. A car could be a need, but a $80,000 sports
car is a want. Feel free to use the budget calculator
given below.
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