What is a budget?

A budget is a plan that helps you manage your money. It helps you figure out how much money you get, spend and save. Making a budget can help you balance your income with your savings and expenses. It guides your spending to help you reach your financial goals.

A budget is especially important if you:

  • don’t know where your money is going
  • don’t save regularly
  • have problems paying off your debts
  • feel overwhelmed by your finances
  • feel like you’re not in control of your finances
  • want to make the most of your money
  • are planning for a major purchase or a life event

Making a budget can help you:

  • set spending limits
  • find ways to pay down your debts
  • reduce costs and save more
  • live within your means
  • reduce stress
  • have more money for things that are important to you
  • feel in control of your money


In this video, Tayo Elnathan explains budgeting with her lively partner Dotun Ayodele. Find out more about budgets here

Leave a Reply