Why do you need to plan your budget?
A budget helps you develop good financial discipline – it looks at your income and expenses, so you can decide what financial decisions you should make. How much can you spend on daily expenses this month? Do you have enough to pay off debts? Can you increase your monthly contributions to your dream holiday fund?
In this video, you learn why it is important to prepare a budget, the different personal factors to consider when developing a budget, guidelines on setting up your own budget, how to analyse your budget and make decisions, as well as – most importantly! - how to be disciplined with your budget.
Create your own budget to guide you on how you earn and spend your money.