10 Interesting Fact About Budgeting

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• Budgeting is a financial arrangement technique carried out by allocating funds appropriately.
• Budgeting can help someone to avoid unnecessary expenses and save money.
• In budgeting, one must determine the priority of expenditure, for example for primary needs such as food, residence and transportation.
• Budgeting can also help someone to achieve their goals in the long run, such as buying a house or vehicle.
• There are several budgeting methods that can be used, such as the 50/30/20 method and the zero-based budgeting method.
• Budgeting can be done using financial applications available on mobile or laptops.
• Starting budgeting from a young age can help someone to build good financial management habits.
• Budgeting does not always mean having to curb expenses, but can also be done by increasing income.
• There is the term Envelope System in budgeting, which is allocating money into several envelopes in accordance with the category of expenditure.
• Budgeting can also be done in the form of investment, for example by buying shares or mutual funds to achieve long -term financial goals.