Write about your approach to budgeting.
The ability to earn income is critical to sustaining livelihoods. Having a definite source of income is the bedrock of budgeting.
If you have a set salary, you can easily divide it up, how much to spend where, how much to save or invest.
But if you have more than one source of income and the amount of income is not fixed, then there are some complications in budgeting.
If you do business, have investments in many places and regular work is going on, then you have to hire a chartered accountant to manage, bill, taxes, GST, and profits.
So if you do a job where you get paid at a fixed time, then life follows a set pattern, more or less calculated budget.
And if you run a business, budgeting can be a bit challenging because it depends on profit and loss. And if you don’t do anything, it’s a cause for concern.
Because everyone should make allowance in their budgets for uncertainties like health issues, social engagements, inflation, unemployment, recession and price shocks.
Rang-Rivaz 
Shashwat, income fuels budgets, but wisdom steers them. Salaried or self-employed, adapt and thrive.
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💯💯 thank you so much Sir for comment 🙏🥰😊
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You’re absolutely right, Shashwat. A stable income provides a solid foundation for budgeting, as it allows for predictable planning and allocation of resources. However, when income sources are variable or multiple, budgeting can indeed become more complex. It requires flexibility, adaptability, and perhaps a more nuanced approach to financial planning.
In such cases, budgeting strategies like the “”envelope system”” or “”zero-based budgeting”” might be helpful, as they allow for adjustments based on actual income and expenses.
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Thank you so much Sir for your blessings 🙏🥰😊
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Amazing 😍
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Thank you so much for appreciation 🙏🥰😊
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Well written! I’m a “minimalist” so for me I just don’t purchase anything unless I see there is a definite “need.”
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Thank you so much for appreciation 🙏🥰😊
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