A budget is a written record of your income and expenses. A Budget is useful in helping you keep track of how much money you make, how much you spend, and how much you have left over.
A Good Budget Includes:
- Income: The money you make from working or investing.
- Fixed Expenses: Regular expenses like rent, utilites, food, supplies, gas and oil changes, etc.
- Emergency Expenses: Money you might need for things like medical treatment or unexpected car repairs, etc.
- Savings: Money set aside for the future.
- Discretionary expenses: Money spent on things like going to the movies, eating out, gifts, etc.
