Budgeting is a term which is used in both corporate and personal world! It refers to drawing a blueprint of your expenses and revenues to devise an income and expenditure plan. This helps in having a clear picture in your mind of the expenses that you can dedicate towards your lifestyle. If you want to make it more granular, you can spread it out in various segments such as groceries, parties, rent, shopping etc based on your preferences. Budgeting is a great tool to save your finances and achieve the targets by keeping a strict eye towards deviations. Here is how it can save your finances: