A major part of the budgeting process to ensure success is

Question

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Developing and maintaining an emergency fund is essential for a successful budgeting process. This fund can help cover unexpected expenses or income gaps, preventing individuals from falling into debt or having to rely on credit cards or overdrafts. While limiting recreational expenses and establishing credit limits are also important money management strategies, they do not have as significant of an impact on overall budget success as having an emergency fund in place. Planning an overdraft is also not recommended as it can lead to additional fees and higher levels of debt.

A Major Part of the Budgeting Process to Ensure Success