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Introduction The skill of financial planning is a vital skill for anyone looking to achieve financial well-being. Whether setting aside funds for future plans or aiming to keep expenses in check, understanding how to plan financially is vital. The Importance of Budgeting Creating and adhering to a practical budget ensures that you stick to your earnings. Here are some important factors why budgeting is essential: Monetary Security: Budgeting allows you to monitor your income and expenses, aiding you stay on top of your financial situati