Budgeting is something almost every household does wether it is for your Monthly Groceries or a Family Vacation or just to get a new smartphone, without proper planning and budgeting things doesn't look good and that is why making a budget is always advised rather than just doing things by instinct.
Now if you ask me I am not a good Budget oriented person as I never make any budgets for almost anything other than vacations and Tech purchases. But my Mother is a superb example of a person who lives life on a Budget. I still remember it clearly when my Mom used to clearly differentiate between costs in Groceries, Fish, Meat and Vegetables. We had like 2000-2500 INR for Monthly Groceries, 500 INR per week for Veggies and 500 INR per week for Fish and Meat as well. So all together the Monthly expense of Groceries and Veggies were approximately 6000 INR and most of the months it used to be way below 6000 INR. This means my Mom's Budgeting was obviously working as it had already fetched results.
In company aspect they also like to go on a Budget as atleast our company likes to keep a strict budget of 10 percent as Expenses in accordance to Sales which is a good ratio according to my company and this is also an example as to how Budgeting is really important so that the Company can give salaries to their employees and at the same time make decent profits after all their expenses.
I am personally not a guy who makes Budget a lot but recently I have started to track my expenses so that I can get a better idea as to where my Money is going and after that I will most definitely try to make a Weekly Budget for myself so that I can gain this talent in my repertoire.
Please do check out the above post if you are interested in participating in this Initiative as here you will get one topic to write on every single day of March.
