There are people who have the habit of writing everything they do and this is very good because you will leave a record of what was planned and what was done, as well as a small personal planner.
In the same way, you can plan your daily budget, which will help you create a plan where you specify, the allocation of each dollar to a specific task. For this, you will only need a simple notebook and pencil or if you are very technical with a page in Excel it will help you a lot.
The first thing to do is a list of needs, starting to list from most to least important, such as Food, household expenses, health, transportation, debt payments, savings, and fun.
Then, you should write down your daily expenditures according to your needs and at the end of the month, break down each discharge to the list of needs, add all your expenses and subtract the total amount of money you had.
Depending on the result, you can evaluate if your balance is positive, I congratulate you! because it means that you have some money left that you can save. Now, if your balance is negative, I lack money to finance your expenses, which means you have to reduce your expenses.
The main idea of this daily activity is that when the month ends you can understand your financial condition and make the best decision, which will help you achieve your goals.
The importance of managing a budget allows you to know your expenses, how much you spend per month according to your category list, helping you draw conclusions and therefore make it easier to adjust expenses according to your needs.
