Master Wealth Security with Smart Financial Planning Strategies
Budgeting: The Foundation of Financial Planning
Budgeting is the first step in securing your wealth. It allows you to track your income and expenses, ensuring that you live within your means while setting aside funds for future needs. A well-crafted budget can help you identify unnecessary expenditures and allocate resources to savings and investments. According to the Bureau of Economic Analysis, the personal saving rate in the U.S. was about 7.5% in 20231, highlighting the importance of disciplined budgeting.