1.

“Management of money is an important aspect of home science”. In this context explain the Importance of budgeting.

Answer»

Importance of Budgeting: Basically, budgeting is an art and science of planning income and expenditure. 

• Budgeting helps one to live within one’s income. 

• Budgeting allow a person to regulate his funds rather than his money. 

• It also ensure that the spending of a person is not greater than his income. 

• It also helps us to save money for our future. 

• It also make us free from future worries related to money. 

• Budgeting also helps us to see how best we can use our money to attain our goals which are very much important for us.



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