Budgeting
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The consumer who consciously fits his spending and saving within the confines of the income being earned is NOT going to end up in problems. He is not going to have problems with overdue rent, overdue utility bills and inadequate funds to meet his or her needs.
HOW TO BUDGET
DO’S
- Write down the income being earned
- Write down the items on which you must spend
- Add these up and see whether they are within your income
- Limit your spending if your expenditure exceeds your income
- Avoid unnecessary spending
- Include savings for the "rainy day" in your budget
DON’TS
- Do not be carried away by advertisements
- Do not think that you must have a particular item because your neighbour has it
- Don’t purchase items which you do not need
The Consumer Affairs Commission can give ideas on how to budget and stick to it.
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