What Is A Budget?

A budget is a balance between income and expenses. Budgets are important because that way you'll know how to work with your net income. Net income is the money you take home after taxes. It is important to know your net income before you make an expense because you need to know if you have enough money for it weather its a fixed or variable expense.

Tips for success:

• Make your budget simple
• Give yourself an amount of money for an expense you can work with each month
• Have some accurate data when it comes to your spending(ex. whats the price and how often you spend money on that specific item)

Outside resources: Personal Budget