A budget is a way to track the relationship between the money you take in and the money you spend. A budget can help you make sure your income covers your essential expenses. It can also help you define which expenses you deem essential and which you consider discretionary.

A financial plan can include a comprehensive process designed to match your financial goals and objectives with your resources to ensure that those goals are met over time. It can also include investment and savings strategies you’ll employ to meet your goals.

Related Documents:

1) Documents that capture essential household expenses, such as utilities, your mortgage, and other recurring expenses

2) Debt repayment plan (if applicable)

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