Personal Budget



Personal Budget

Introduction

Personal budget is simply a plan to manage money effectively. When individual keep track on their income and expenses, they can easily balance their overall spending pattern with their activities. This paper will focus on preparing a personal budget, challenges an individual see in maintaining a budget and Clear understanding of personal budgeting with respect to income and expenses in order to avoid debt and financial problems.

Discussion

The development of personal budget assists individuals in identifying their wasteful expenditures. A clear breakup of expenses highlights spending and saving pattern of the person (Glasby, Littlechild, 2011).

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