After having established a spending plan, it is important to

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Keeping track of actual income and expenses is crucial in order to ensure that you are sticking to your budget and making any necessary adjustments. Filing the budget in a safe deposit box or comparing it to the previous budget may be helpful, but they are not as important as actively monitoring your spending. Paying attention only to expenses that are more than 10 percent of your salary is not specific or thorough enough of a strategy. The statement "None of these are true since budgets are just estimates" is not accurate, as budgets can be effective tools for managing finances if they are used correctly.

After Having Established a Spending Plan, It Is Important to