Having control over your finances ensures you don't fall a victim to money related stress. It also provides a financial “backstop” for life's uncertainties and increases security and peace of mind. One of the main tools that will surely help in keeping away from such scenarios is budgeting. This helps you allocate your money intentionally, so you know exactly how much you earn and spend.

By directing your money wisely, you can make informed choices about where to spend it and allows you to plan for future expenses.

Keeping your expenses under control will help you afford for special occasions. This could be for your loved ones’ birthday, your children’s back-to-school supplies or for upcoming festivals. Here are a few tips to better manage your budget and financial wellbeing:

-   Analyze your spends and identify the categories which are essential and important.
-   Prepare your budget every month and make a list of all the essential upcoming events.
-   Add a buffer to your budget by putting a small amount aside for seasonal and occasional expenses.
-   Define your priorities.
-   The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. 
-   Commit to a no spend day.
-   Build an emergency fund.
-   Build financial goals and have an investment strategy to build a corpus

Budgeting is a positive tool to have control on how you manage your money. Take advantage of the many tools that are available free and enjoy the benefits of having control on your finances.