BANKING > budgeting

Budgeting is important to ensure you have the necessary capacity to meet your financial needs today and in the future.

Some people think of budgets as denying themselves the purchase of items or life experiences they want today. But the opposite is actually true. Sticking to a budget means you waste less money on little things you hardly notice, and save more for the bigger, important items you really want. This includes ensuring you have the ability to meet the financial committments relative to major life events such as a future home purchase, major vacation, raising children and having funds to pay for education, and ultimately having sufficient funds set aside to support a comfortable retirement lfestyle.

It's easy to spend money, but more of a challenge to save for the future. Good budgeting skills are essential to managing your money properly.

A budget compares the money that you make with the money that you spend. By keeping track of your spending habits, you can plan for big purchases, and work on improving areas where you spend too much.


  • The first step in making a budget is to keep track of everything you make and spend over a set period of time. It can be a week, a month, three months or even a year. You can sort your expenses into categories such as meals, entertainment, clothes and travel.
  • If your expenses are more than the money you are making, you might need to make some adjustments to your lifestyle and spending habits.
If the money you make is more than what you spend, you should consider putting the extra money in savings.

Simple Budget Format (10K pdf)              Detailed Budget Format (11K pdf)

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