Welcome back to The Diary of a Budding Entrepreneur Podcast! 🎙️After a five-month break, we're back for Season 3, and this season is all about something we don't talk about enough: financial literacy.We've spent the previous seasons learning how entrepreneurs build businesses and make money. But once you make the money, how do you manage it, keep it, and make it work for you?We start Season 3 with one of the most basic but often misunderstood aspects of personal finance: BUDGETING.In this episode, Martha is joined by Lynette Kyalo, a wealth and protection manager with over a decade of experience in the financial markets, for an honest and practical conversation about managing money.We discuss:💰 What budgeting actually means📊 Why tracking your expenses should come before creating a budget💸 Whether the 50/30/20 budgeting rule really works for everyone📒 Zero-based budgeting and envelope budgeting🏦 How to budget when your income is irregular or unpredictable💳 How debt fits into your budget📈 Saving, investing and planning for retirement🧾 Why business owners need to separate business and personal finances💼 The importance of paying yourself as a business owner📚 Why bookkeeping matters for small businesses🔄 Why your budget needs to evolve as your life and income change🎯 How to create a budgeting system that actually works for YOUOne of the biggest takeaways from the conversation? There is no one-size-fits-all budget. Your budget should reflect your income, expenses, obligations, financial goals and the season of life you're in.As Lynette puts it, budgeting is ultimately about understanding where your money is going and using that knowledge as a foundation for building wealth.If you're an entrepreneur, employed professional, freelancer, or simply trying to get better at managing your money, this episode is for you.Watch, learn, and let us know in the comments: Do you actually have a budget, or are you doing the infamous ”mental budgeting”? 😂About the GuestLynette Kyalo is a wealth and protection manager and runs a boutique wealth advisory firm focused on helping people grow, manage, protect and transfer their wealth. She also hosts the ‪@getyourbagrightpodcast‬ which focuses on financial wellness and holistic conversations around money, career and personal development.Subscribe & FollowSubscribe to The Diary of a Budding Entrepreneur Podcast for more conversations on entrepreneurship, personal finance, financial literacy, wealth creation and everything in between.