No one has infinite money, resources or even time and we all should do budgeting in 2025 for ourselves and take stock of where we are, only then we would have any chance at getting where we want to go. With that spirit in mind, let’s get to learning and make a budget for ourselves.

But, What Is Budgeting In 2025 Supposed To Be About?

Budgeting in 2025 is like a collection of your life’s financial decisions in a given time frame. It represents you, in numbers over time. Like a mirror of sorts, a budget should be clean, transparent and honest.

That is why a budget must have everything important financially that has happened in your life in that given time frame. Starting the 1st of next month to the last of that month, anything significant if not everything that you’ve bought or sold must be documented, and organized.

And that’s pretty much what budgeting in 2025 consists of in precise terms.

How Am I Expected To Remember Everything I’ve Bought During Budgeting In 2025?!

Congratulations, you’re not. You’re only expected to remember what you’ve bought that day, or that week. Break the month into chunks and spend just 5 minutes a day or 30 minutes a week to roughly write down what you’ve bought and what you’ve made in that period of time. All you have t do then is rinse and repeat it the next day or week, however you wanna take this forward. And This is where the first concept of budgeting comes in.

Also Read: Finance 101 in 2025| A-Z Guide | Rupee Gyan

Is It An Asset? Or a Liability?

What puts money in your pocket and/or increases in value over time is an asset because it increases YOUR value financially, also known as net worth (we shall discuss this term ‘net worth’ in detail further). Furthermore, what takes money from your pocket is a liability, which decreases your net worth a little bit, or a lot, depending on what you do with your money.

Your goal is to maximize your assets and minimize your liabilities as much as possible without impeding your needs and happiness.

But, How Do I Actually Write Things Down During Budgeting In 2025??

For starters, remember that everyone who has ever made a budget or will make do budgeting in 2025, was once in your shoes starting out, and now have reached new heights through it, you’re not alone so don’t quit just yet. Start with a very basic budget, Pure documentation, no conclusions, no judgements. Only documentation. You will learn how to improve your budget in a short span of time so don’t worry. Just follow the steps listed below.

1. Take a piece of paper of a new digital note file, however you prefer it to be, and divide it in half.
2. On one side write ASSETS in capital and big letters on the top and LIABILITY on the other side’s top.
3. Then, spend your 5 minutes a day at the end of the day or 30 minutes a week anytime of the day on the weekends thinking about what you’ve bought and sold. Perfect if you write everything down successfully, that too daily; Still good if you do it weekly but try not to miss a few things.
4. Voila! Now you have a piece of paper with your life’s true data on it, a data point which you can use in the future to check your progress and feel proud that you started early.

This brings us to near to the end.

Now, that you have data, put it away for a few days. After a few days have passed, have a random look at it without expectations and see how many stupid or unnecessary purchases you made in the blink of the moment. This exercise done once every week will generate self-awareness, which is the very point of doing all this in the first place.

Also Read: Can I Get Rich If I Don’t Have Wealthy Parents?| 5 steps | Rupee Gyan

Conclusion

We have successfully started you on the journey of living your best life financially. The first step was counting your money because only what gets measured gets improved. Next up, we will talk about how to analyze a budget and how to improve your budget with each passing month. And most important of all, how to become a better person through all of this. At last, remember…

Only what gets measured gets improved.

-Peter Drucker

We hope you have a great life ahead. See you again, soon.