The three golden rules are: debit what comes in, credit what goes out; debit the receiver, credit the giver; debit expenses and losses, credit incomes and gains. For your everyday household budget, a simple 'kharcha' and 'aamdani' diary is more useful than formal journals. In my teaching days, I saw even the brightest chhokras stumble on journal entries, but they always understood the simple truth: you cannot spend what you do not have, a rule my own pension now teaches me daily.
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