No, I’m not talking about that “B” word! I’m talking about that curse word known as a BUDGET. I commonly refer to your budget as “Lifestyle”. Now, I’m not talking about a budget in the sense that everyone has to have an itemized spreadsheet or spend countless hours a week micromanaging transactions. In generalities, a budget is having an idea of how much income is coming in and how much in expenses are going out. Typically, most households run their budget on a month to month basis for simplicity. This gives us an idea of how much money is left over each month. To be frank, when you retire not only will you have to know your budget, but you will also have to live within it. Otherwise, you run the risk of running out of money. At some point, you will need to carefully manage income and expenses, so why not start practicing today?