A personal budget is a finance plan that allocates future personal income towards expenses, savings and debt repayment. Past spending and personal debt are considered when creating a personal budget. There are several methods and tools available for creating, using and adjusting a personal budget.
Because recent studies show that less than half (43%) of US households currently have savings, (i.e. they are just "making ends meet"), funds should also be allocated toward savings.
Read more about Personal Budget: Sample Budget, Tools, Concepts, Allocation Guidelines, Following A Budget, See Also
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