Budgeting is the foundation of financial health

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Follow the SMART principle (Specific, Measurable, Achievable, Relevant, Time-bound).
Example: Instead of the abstract “save money,” formulate the goal like this: “Put aside 300,000 rubles in 12 months, transferring 25,000 rubles monthly to a savings account.”
Setting specific goals increases the likelihood of achieving them by 40%, according to a Forbes study.
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2. Create a personal budget
It allows you to control bulk sms indonesia your expenses and eliminate unnecessary spending.
Steps to create a budget:
List all sources of income.
Identify mandatory expenses (housing, utilities, loans).
Set aside 10-20% for savings.
Set limits on non-essential spending.
Practical advice: Track your expenses manually or use budgeting apps. This will help you understand where your money is going and identify opportunities for optimization.
The 50/30/20 approach:
50% - for basic expenses;
30% - for optional expenses;
20% - for savings and investments.
If you spend more than 50% on rent, consider optimizing your expenses, such as moving to a more affordable home.
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3. Manage your debts