I was speaking to a 35-year-old person working in MNC in Noida recently. He told me, “Ashish, I know where my money comes from, but I don't know where it goes.” I would call the situation a total budgeting failure. It is a typical case of I buy what I want and when I want.
Budgeting is a process of creating a plan to spend your money. Budgeting is nothing but balancing your expenses with your income. And it is more important than ever - at a time when we are staring at layoffs ..