Definition: A budget is a plan you can use to better manage your spending and saving. Example: Try using the 50-30-20 budget, which is 50% essentials, 30% for flexible spending and 20% for financial goals..
Fun Fact: In a year, the average American family spends $710 on their pets and only $110 on reading materials. Priorities!
Watch the video below for another look at this concept.
Budget