$ay What?

The limit you place on your spending for a specific category. If your income is five hundred dollars, you may place a limit of two hundred dollars for groceries; one hundred for utilities, one hundred for savings and one hundred for transport. It is important to separate wants from needs. When you need something, you cannot live without it. You have to get it. However, you can do without a want; and in most cases, you can save money if you don’t spend it on something you do not need.