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RE: Financial Advice 5: Budgeting Basics
Dear @financialadvice
Interesting choice of topic. Upvote on the way :)
I just discovered your profile a moment ago and I found this publication really worth reading. Budgeting is a must and I'm trying to teach my wife how to handle it. Ain't easy task I tell you.
ps. i realized that telling someone "I've no money" doesn't sound good. But saying "my budget is limited" sound so much better :)
If you spend more money than you receive, you will eventually go broke!
Excelt of banks and goverments, which can create more debt, print more money and carry on with their over-spending.
Yours,
Piotr
Thank you for reading this Piotr. The words we use to portray ourselves definetely make an impact upon others perceptions.
Funny thing you bring up governments and banks being able to do as the please, such is not the case in the long run. Printing money leads to hyperinflation and a destroyed economy. So does overspending. Governments can run small perpetual deficits because they have more control over inflation than individuals and they have the power to raise taxes. They should still have some restraint. I believe you're from Venezuela so you have seen the effects of poor monetary and fiscal policy first hand.
Best of Luck