Moneycontrol
Dec 01, 2017 11:48 AM IST

4 Reasons Why You Need To Budget Monthly

The following article is an initiative of NSE and is intended to create awareness among the readers.

1. The first and the most important reason to plan a monthly budget is to limit over spending. You will learn to spend within your means and avoid getting into debt.
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1. The first and the most important reason to plan a monthly budget is to limit over spending. You will learn to spend within your means and avoid getting into debt.

2. A monthly budget would mean that you have a portion of your earnings going towards your savings. This ensures you have an extra something for a rainy day.
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2. A monthly budget would mean that you have a portion of your earnings going towards your savings. This ensures you have an extra something for a rainy day.

3. A monthly budget will identify exactly where you are losing (wasting) money. It gives you a chance to curb your financial mistakes.
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3. A monthly budget will identify exactly where you are losing (wasting) money. It gives you a chance to curb your financial mistakes.

4. You learn to understand and differentiate between your needs and wants and prioritize your life.
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4. You learn to understand and differentiate between your needs and wants and prioritize your life.

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