Most budgets spring a leak because they are not implemented well. To account for each paisa, you need to track your expenses under various heads and reconcile these with your income. So, note down all your expenses in a diary or on your mobile, and do it consistently. You could use envelopes to put in money at the start of the month under different categories, say, utility bills, entertainment, children fees, insurance premium, etc.

At the end of the month, compare your income with your outgo to identify leaks. Another way is to download a budgeting app that will do all this for you. You could pick from:

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