"Mom, you don't need a L'Oreal hair dye, you look elegant with streaks of white here and there.." he grins and then takes a dig at his sister." stop her music classes, dad, at least we can stop hearing her morning brays..!". He is angry because his pocket money has been cut.

Dad was not happy with the previous month's happenings in the financial front at his home and he decided to set it right by setting up a budget and strictly enforcing it!

Dad decides on budgeting and plans minimize the expenses consciously by reducing expenses on groceries and other domestic expenses. All goes well till the end of the month when suddenly they have guests from a far off country. It was pitiable when the head of the family started counting the few notes again and again. He seeks help from his saviour - the credit card.

"We will surely make it this month" dad says. Poor dad does not know that he would have to shell out a few notes for a wedding gift in a few days. The invitation was yet to come. Finally the family gives up and decides to face the expense as it comes.

The reason why they quit is they really don't know what budgeting is. There are many advantages in budgeting. Can anyone imagine the government or a major corporation operating without a budget? A budget is a guide to measure our financial progress. Before the credit cards came into use, we had the real money to deal with, and we could actually know what we were doing with the money. But now the improper usage of credit card may make us live beyond our means and get us knee deep into debts.

Budgets actually help us in meticulous planning of handling money and those cards and give us the extra money, which we need during times of emergency. We sleep better at nights not worrying about the tomorrow when we would have to meet "those" heavy expenses. The latest trend is to plan budget on how to reduce spending money. To spend less is to save more.

Set realistic goals, try to fit in the budget according to situations and update the budget as and when required. Let the budgeting process be a tool to spend less and save more!