Question

Comment on Budget should be regarded as a master but not as a servant.

Answer 1

The given statement is very true in all aspects. This is because a proper budget helps you to have a control over your desires rather than allowing the desires to have a hold over you. In other words, a budget helps you to distinguish between your needs and wants. A need is something that you can definitely not manage without but a want is something that you would just like to have. Not having it does not affect you in any way.

Answer 2

Exactly the budget should the regarded as a master .This is because budget fulfill one's need and satisfy him. Budget control your wishes and fulfill the original needs. It also eliminates the use of the money on the unnecessary wishes and desires.The focus always remain on the need rather than wants in a budget. So budget is actually act as the spending valve that who much to spend in who much things.  Moreover, making the budget an servant means you are just want to have money to spend on more and more things even if it is not really your need.So budget also gives an insight how to keep control on the spending or money.