Union Budget - Far cry for common man

Again entering to see one of the biggest event of the year i.e budget season. Just pick up any news paper or news channel you would find the discussion forums, expectations, reality and news related to Union Budget.

Budgeting is the first step and most important part of any Financial Planning. This is the time when we estimate income and expenses for the year and plan our Purchases, Investments, Vacation and Tax planning. Union budget is also the process by which government plans its income and expenses for the coming year.

Being a financial planner, I feel most of the household no more continue to have this process in place.This is the best time to realign our family budget date with that of union budget , so that we don't need to set any reminder and there are lot of sources available to remind us to do that.

It's better to give our time in preparing our own budget instead of watching what government is doing. 

Budgeting helps us in avoiding haphazard expenses in the months when our monthly exps. are less then  income and to avoid borrowing on credit card or opting for consumer loan in the months when outflow is higher then income. Would suggest to ear mark certain expenses which comes at intervals viz; childrens school/college fees, Insurance premiums, Tax outgo expected in last quarter of Financial year, Festival period exps , B'days, Anniversary, marriages etc., Distribute it to every month to avoid making unnecessary exps. in the months of surplus.

In any way we should concentrate more on the act which is in our control, whatever govt. does we do not have any control (upto a greater extent) and have to adjust whatever they decide. So it better to allocate our time in preparing our own family budget first and then enjoy fights on discussion forum of news channel.