Women & Money

The importance of budgeting cannot be underestimated. Even in today's dual-income households, without proper budgeting or keeping track of the income and expenses, we are often filled with a sense of bewilderment wondering where all that money went -especially when we are caught short of funds for a sudden expenditure. We generally drift along thinking we can manage fine on our own, paying bills as and when they are due, often hoping there will be enough when we need to make a purchase. Caught in a fix, we flash that ubiquitous credit card looking upon it as a saviour. But is this the right approach? This kind of spending usually leads to large credit card debt when unexpected expenses occur, and, sure enough, there are no funds set aside to take care of them. This is where budgeting can help you. With a sensible budget that is strictly adhered to, you can manage your money reasonably well. Once you know where you are spending, you can soon learn to cut out unnecessary spending and definitely stop relying on credit cards to bail you out.