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Budgeting

Are you on top of your financial goals?


Your financial security and the ability to gain financial freedom depend on two important factors- budgeting and financial planning. Karma Financial offers individual budgeting services and financial planning to ensure that you live a life free of tension.

We suggest you start with budgeting- the assessment of your financial position and where you stand today. Consider yourself a business and then take a look at your financial position to get a clear picture of all expenses and income.

Evaluate your Financial Position from the Perspective of a Business

Businesses not only depend on financial planning for their success. They start with the immediate expenses and income and prepare an annual budget and adopt a means to stay within its budget.
We recommend you adopt the same approach to your income and expenses to work out your budget. There are several elements to take into account and each element is equally important to developing an accurate budget.

An Accurate Budget Leads to Effective Financial Planning

You cannot plan for the future unless you have an accurate budget or an understanding of your current financial position. The budget includes sources of incomes, expenses, savings, debts and your current investments.

Preparing, maintaining and staying within your budget has many benefits- including having sufficient cash flow for investing, paying taxes and having an emergency fund for unexpected expenses.

Armed with a solid budget, you can proceed to the next step, which is financial planning to attain a financially secure future.

Know Where You Stand Today and Control Your Expenses

Your budget will include all income and expenses of the household. You can use it as a tool to track your income, the value of your assets, daily expenses and amount of your debt.

Our professional budgeting service delivers an accurate and realistic accounting of your money. You will get a clear picture of how much money you have, how or where you spend it and the net cash flows you have each month.

A budget allows you to track down your expenses and control your expenditures to accumulate more savings. The budget allows us to identify which expenses you have control over that you can adjust to free up more cash flow for savings!

Calculate Where You Spend Today

Cash-flow   Calculator

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Net-worth Calculator

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Components of Budget

Our professional budgeting service will create two statements as a part of the budgeting service-


Household Budget

A household budget is an accurate account of your monthly and annual cash flows. It can help you restrict and control discretionary spending. It also helps you make informed decisions and develop better spending habits.


Net Worth Statement

The net worth statement presents the value of your assets and liabilities. The amount that remains after subtracting your liabilities from the value of assets is your net worth. Based on net worth you can plan for debt financing alternatives, debt consolidation, investments and savings strategies.