BANKING AFFAIRS

Detailed explanation-1: -A budget plans for and tracks income and expenses over a specific time period. Businesses and governments rely on budgets to track revenues and expenditures, but you might be most familiar with a budget as a tool for managing your finances.

Detailed explanation-2: -Gather account statements and receipts The best place to start when tracking spending is gathering the following information: The most recent full month’s statements from your bank checking accounts. The last credit card statement. Receipts or a tally of your daily cash spending.