Budgeting a crucial step to creating healthy financial habits. Through the action of budgeting, we put into perspective the amount of money we are allocating to the different areas of our lives: necessities, luxuries or emergencies. The key essence of budgeting is to hold yourself accountable as to how your income is allocated. There are some rules-of-thumb out there (such as the ,,50-30-20 rule or the,, 70-20-10 rule) but the most important aspect of budgeting is to find a ratio that works best for you. So how do we get started? Let us identify what typically causes budgets to fail. Lack of perseverance. There is much talk on trimming your expenditure on every single purchase by finding the cheapest alternative. It takes a toll after some time, with anxiety or stress to constantly cut costs which many do not appreciate. Under-estimating your expenses. Be...