Budgeting mistakes to avoid
Many of the slips that make it difficult for people to stick to their financial plans can be avoided, SIMON EJEMBI writes Your mind is made up. This time around you are resolute; you are not going to let your money slip away just like that. You are going to keep track of every naira you spend and ensure you implement your budget this time around. Many people often find themselves in this state of mind at the start of a new month or as pay day approaches. Yet many of them fail to achieve their goal. Before the month is half-spent, they have abandoned their budgets. Experts say this is largely as a result of poor planning and mistakes made in drawing up a budget and trying to implement it. Some of the common mistakes, you should note when making a budget are: Having unrealistic expectations In drawing up a budget, it is important to know the amount of money you are expecting or that will be available to you. However, some people end up listing their needs (and want...