The Art of Budgeting
Money management is a practice that should be learned early in life as soon as one begins earning
or receiving money.
C. Pete Benson defines budgeting as,”“A written spending plan for your money that includes giving, saving, and spending is
essential to achieving financial freedom.”
Budgeting is one of the pillars of personal money management a strategic plan of action pertaining
to the inflow and outflow of money and it is necessary for everyone regardless of age, personal
circumstances, financial situation and one’s needs. A good realistic budget enables one to do more
with their income and not just make ends meet.
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