Who needs a spending plan?
Getting started on a budget/spending plan isn’t always easy, but it is essential. Some families have the false idea that they don’t make enough money to live on a budget, but they need a spending plan even more than others. Because when a family has to live on a low income, they must develop a budget that is as non-indulgent as possible, control their spending very carefully and live within the established budget guidelines. At times it might become very frustrating, wondering how to develop a budget when there doesn’t seem to be enough money to make ends meet. But that’s exactly what makes a budget even more important for families with low incomes. Whatever your income level might be, a well-developed spending plan should help you determine: • What kind of home you can afford, • The kind of car you can drive, • How much insurance you should have, even • What kind of clothes you buy. At first, it can be hard to make a budget work. Often, people with low incomes have to play catch-up, b
