Summary of Chapter 2
Key Takeaways
Budgeting helps you control your money by organizing your spending and saving. The 50/30/20 rule is an easy way to divide your income into essentials, non-essentials, and savings.
Tracking expenses ensures you know where your money is going, helping you stay on budget.
Setting financial goals (short-term and long-term) keeps you motivated to save for specific needs, like a trip or a new laptop.
Building an emergency fund protects you from unexpected expenses, keeping you financially secure.
