Even if you took an economics class in grade school, setting a budget might not have come up, and it still might not come naturally. However, setting a budget and sticking to it month-to-month can help you live within your means and save up money for when you need it, and you’ll be glad you have those savings when you’re looking to retire. Take a look at your income, then take stock of how much you spend each month. Note how much you spend on essentials versus costs you can cut back on.
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