A budget is a plan that outlines how much of your income should go to different parts of your finances, from monthly bills and day-to-day purchases to savings, charitable donations and investments. WalletHub tapped Poole professor Eileen Taylor to share her expertise on budgeting.
“At a minimum, you should have an annual budget that shows your income (basically money you expect to receive from your job or other sources) and your expenses (these include housing, transportation, utilities, food, insurance, entertainment, medical, and other),” she said.
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