One of the most important aspects of managing your finances is creating a budget. A budget is a tool that helps you track your income and expenses, allowing you to make informed decisions about your money. By creating a budget, you can prioritize your spending, identify areas where you can save money, and work towards achieving your financial goals.

When creating a budget, it's important to start by listing all of your sources of income and expenses. This includes your monthly salary, any side hustles, as well as bills, groceries, transportation, and other regular expenses. Once you have a clear picture of your financial situation, you can allocate funds to different categories and set financial goals for saving and investing. Remember that a budget is a dynamic tool that can be adjusted as your financial situation changes.

Key Lesson Concepts:

• A budget is a tool to track income and expenses
• List all sources of income and expenses
• Allocate funds to different categories and set financial goals