A budget is a recording system or log that keeps track of how much money you have (e.g. your income, wages, etc.), where the money must go towards (e.g. bills, expenses, etc.) and if you have any overages you may put towards your savings or your leisure. Your budgeting plan ensures you’re putting your money towards your priorities and managing it well to make sure you can afford to fund your desired lifestyle and set achievable savings goals. With a budget, you have a plan for your spending and understand where your financial health currently stands. Remember, a budget is a living document. Nothing is set in stone, so change it as needed to fit your goals and financial situation.