Cut your coat according to your cloth, because if you don’t, you will lose them both! Budgeting is an essential part of our lives. We are budgeting all the time, knowingly, unknowingly, as it helps us in keeping our expenses in tandem with our income. Every year the finance minister of the country along with the team prepare a budget for the nation which decides on how much taxes are to be collected or other non-tax sources of revenue. Accordingly, various schemes, subsidies, projects and policies are also prepared to be implemented over the next financial year. Most people assume that these are government activities that have no bearing on their lives. However, the truth is, budget announcements are one of the most significant aspects of your budget and financial management.