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North Korea Welcomes Putin in Pyongyang with a Red Carpet

On Wednesday, Russian President Vladimir Putin visited Pyongyang, North Korea, for the first time in 24 years and received a warm welcome.

The State TV in North Korea displayed the two leaders as they warmly embraced on a red carpet outside Pyongyang International Airport.

In addition, the report showed the two leaders left in a car, with the streets lined with banners, flags, and posters promoting Putin and the North Korea/Russia relationship.

When the North Korean leader and Putin previously met, they shared the innermost ideas and thoughts that were pent up.

Furthermore, North Korea’s ruling party’s official newspaper reported that Putin praised Kim Jong Un.

Putin commended his leadership while promising to help develop trade and strengthen security across Eurasia.

According to the newspaper, Putin supports the DPRK’s opposition to its “dangerous and aggressive” elements.

Before this trip, which could last two days, Russian officials had given a clue that both countries could sign a “comprehensive strategic partnership.”

Moreover, Putin signed an agreement with North Korea’s leader to cooperate on Nuclear energy, food, energy security, and space exploration.

This alliance stands out as one of Asia’s highest-profile moves by Moscow in years.

Western Countries Closely Monitoring Putin’s Visit

The recent move between North Korea and Moscow sparked concerns among Western officials.

Western Countries are curious and have been closely monitoring this relationship, particularly because Russia and North Korea are sanctioned.

Also, Westerners are keen on knowing the potential outcomes of the tensions on the Korean Peninsula.

NATO Secretary-General Stoltenberg mentioned in a joint press briefing that Putin’s trip confirms Russia’s close alignment with other authoritarian states.

The authoritarian countries include North Korea, Iran, and China.

Jens Stoltenberg said this alongside the U.S. Secretary of State Anthony Blinken on Tuesday.

According to U.S. officials, Pyongyang supplied Russia with dozens of ballistic missiles and more than 11,000 containers of munitions.

All of which were for its military action in Ukraine.

How to Create a Budget Plan?


If you are extravagant, you must create a budget plan to know how much you spend per month.

In budget planning, you can manage your salary and lifestyle, keeping you in charge of your finances.

Moreover, budget planning isn’t just about financial stability, it helps you to create a sense of security. Budgeting allows you to map out your plans while adapting to your unique financial situation.

Remember, budgeting isn’t easy to do. However, you can have a successful budget with dedicated tools and strategies.

We’ve highlighted steps to help you create a budget plan that works. Let’s take a look!

Understanding Budgeting

A budget is a financial plan and forecast for a company’s economic events. It shows how money can be spent each month. Making a budget can help you save money each month.

How to Create a Budget plan?

Creating a helpful budget can be very easy if you follow these steps;

  • Estimate your income
  • Write out your monthly expenses
  • Tag fixed and flexible expenses
  • Know how much you spend in a month
  • Make changes.

Let’s quickly explain them.

·       Evaluate your income

Calculating your net income is the first crucial step in creating a budget plan in this economic situation. Your net income is the remaining money you have after paying taxes.

To estimate your income, cross-check your previous income and spending. With this, you can determine your average monthly net income.

Also, it would help to consider fixed income by using your wages or salary as your estimated income.

Estimating your income is more than a daily task because you need to review and adjust your estimates regularly to stay on track.

·       Write out your monthly expenses.

Seeing the current economic problem, writing monthly expenses is crucial in creating a budget plan. These expenses are fixed monthly bills such as rent or mortgage, utilities, and car payments.

Also, list your variable expenses because they may change monthly.

Credit card and bank statements are excellent places to start because they often itemize or categorize monthly expenditures.

This step-by-step guide will help you achieve this:

  1. Highlight the crucial expenses such as;
  • Housing: These are rent, mortgage, utilities, and insurance.
  • Food: Examples are groceries and dining out
  • Transportation: This includes car loans, leases, gas, insurance, and maintenance.
  • Debt payments: Involving debit and credit card loans.
  • Insurance: This includes health, life, disability, phone and internet, etc.
  • Miscellaneous: such as gifts, travel, hobbies, clothing, etc.
  1. Consider the current inflation rate and adjust your expenses when creating a budget.
  2. Also, if you are having a hard time, include expenses like debt counseling services and monetary help programs. However, always check and adjust your list of expenses to ensure accuracy.

·       Tag expenses and flexible expenses.

Understanding your fixed and variable spending allows you to balance and make conscious monetary decisions (sustainability).

You do this by separating your fixed and variable spending and listing your expenses per month.

Tagged expenses are more accessible to list than variable spending, though the cost is the same.

Examples of tag expenses:

  • Housing (rent/mortgage, insurance)
  • Car (loan/lease)
  • Insurance (health, life, disability)
  • Minimum debt like credit cards and loans.
  • Utilities are electricity, water, and gas.
  • Phone and internet bills, etc.

Example Flexible expenses:

  • Groceries
  • Transportation
  • Entertainment
  • Travel
  • Clothing
  • Subscriptions etc.

It’s very advisable to know how much you spend in a month. Also, knowing your month-to-month expenses is easier with budget plans.

For these groups, you should know when your spending has changed.

Calculating your three months’ spending can determine your average monthly cost. For example,

  • Housing and debt payments often take a significant share of fixed expenses.
  • Groceries and transportation are always the top flexible expenses
  • Entertainment varies depending on individual preferences
  • Always know that these are general estimates, and your actual cost may be based on your location and lifestyle.

·       Make changes

Relating your income to your monthly outlays is a vital step to take when creating a budget plan. You need to cut down on your expenses if your payments are higher than your income.

For example, if your expenses cost $300 more than your monthly net pay, you should find ways to cut costs. You can reduce your spending on household items, foodstuffs, subscriptions, etc.

It’s wise to change the sum of money you use to become debt-free.

Nevertheless, if you have an income to spare after listing your expenses, you can upturn certain areas of your budget. You’d use this spare money to increase funds, especially if you don’t have an emergency fund.

If you want, you can spend the money on unimportant things like dining out or traveling.

Consequently, if you still need a high-yield savings account, you can consider opening one.

·       Make a plan

You can create your budget plan after identifying your income sources and estimating your monthly income.

That is, by checking what you want to spend on. Cutting your expenses involves choosing between essentials and non-essentials.

·       Estimate your spending habits.

Checking your spending habits is another crucial step in creating a budget and managing finances. In getting this, you need to be able to identify the areas that can be improved.

So, how do you do this? You review how much you spend and look out for categories where you can cut.

Types of budget plan

·       Financial budget

This type of budget helps you outline individual or logistic financial goals.

With a financial budget, you can evaluate your returns and expenditures.

·       Government budget balance

A budget presents the government’s proposed revenues and spending for a financial year.

This government balance is also referred to as financial or fiscal year.

Government revenues mainly include taxes, e.g., inheritance, income, or import taxes.

The government or other political entity prepares this budget.

·       Operating budget

It is a financial plan that outlines a company’s expected revenue and expenses for a specified period. This includes the expenses and revenue generated from day-to-day business.

·       Incremental budget plan

The incremental budget plan takes the previous year’s money and adds it up to a percentage to get the current year’s budget.

This is a traditional budgeting method in which the current budget is prepared using actual performance as a base.

Importance of budget plan

  1. It helps you know how your money is spent and finds areas for development.
  2. A budgeting plan helps you manage your money. By tracking expenses and following a plan, a budget makes it easier to pay your bills.
  3. Creating a budget helps cut expenses and reduce unnecessary spending.
  4. It helps achieve monetary strength by ensuring you live within your means.
  5. A budget plan lets you spread your money for savings, investment, and debt repayment.
  6. Budgeting helps you plan for long-term goals like retirement, education, and big purchases.
  7. It places you in charge of your money and reduces monetary worry.
  8. A budget plan helps you to make informed monetary decisions.
  9. A budget plan holds you responsible for your spending habits and monetary choices.
  10. It helps you achieve your monetary goals.

How to Create a Successful Budget Plan

As you work with your budget every month, tell yourself why you are doing this and evaluate your progress to ensure you meet your goals. Here are the steps to build a budget plan

·       Set financial goals

Clearly define your financial objectives, such as revenue targets, profit margins, and cost reduction goals. Aligning them with your overall objectives is essential.

·       Collect monetary information

Gather financial data from past financial statements, sales and expenses reports, and cash flow statements to create a comprehensive financial picture. This will help you gain vital insight into your financial performance. It can also act as a foundation for the budget plan.

·       Identify the various sources of revenue.

Identify your primary sources of income or revenue. This may include sales of products or services, grants, or investments. Also evaluate the growth potential of each revenue source and determine its reliability before making projections. Doing this will ensure you make realistic projections.

·       Evaluate expenses

It’s important to analyze your expenses across various areas: personnel, rent, food, transportation, etc. You can use this data to track common overspending trends and even identify cost-saving opportunities.

·       Build a budget structure.

Building a complete budget structure with revenue projections and expense categories and aligning it with the organization’s operational strategies.

·       Determine the budgeting period.

Finalize the timeframe for your budget plan by considering your target financial cycle, goals, and other factors that may affect your spending. You may choose to draft your budget quarterly, annually, or monthly.

·       Establish budgeting guidelines

The next step is to define all the guidelines, such as the methodologies and assumptions. Document them to maintain consistency and transparency throughout the process.


Once you’ve set your budget, you must analyze regular spending and keep track of your finances.

A few elements of your budget might change when you get a raise in salary, change your expenses, or reach a goal.

Whatever the reason is, always practice the act of budgeting by following the crucial steps given.

Ripple’s Chief Legal Officer Questions SEC’s Shift on Ethereum

Ripple’s Chief Legal Officer Stuart Alderoty has questioned the SEC decision to end its Ethereum 2.0 investigation.

Meanwhile, Pro-XRP lawyer Bill Morgan agrees with Alderoty, stating ETH still faces regulatory uncertainty.

Shortly after, Consensys Inc. shared the SEC’s decision not to enforce action on ETH sales.

Consequently, this new development has sparked a debate about Ethereum’s regulatory status.

Ripple CLO Questions Ethereum’s Regulatory Status Amid SEC’s Decision


Ripple’s CLO Stuart Alderoty recently congratulated Consensys on its win. However, he raised concerns about the SEC decision and ETH’s regulatory status.

He questioned whether the conclusion of the Ethereum 2.0 investigation meant that the SEC did not consider ETH security.

Moreover, despite the recent outcome, Alderoty raised the possibility that the SEC might still consider ETH security.

Also, he cast doubt regarding SEC Chair Gary Gensler’s future position on ETH’s classification.

In addition, Ripple CLO highlighted that the SEC’s refusal to address specific matters adds to regulatory confusion.

He noted that Metamask’s staking and swap services might face scrutiny due to the SEC’s unclear stance.

Moreover, Alderoty expressed frustration with the unclear regulatory environment for the crypto market in the U.S.

He warned that this uncertainty could hinder innovation in the country.

According to Alderoty, regulatory uncertainty puts the U.S. at a disadvantage in the global crypto market.

His concerns reflected broader frustrations within the crypto community.

The need for clarity and consistent regulations is more pressing than ever.

Without it, innovation and growth in the U.S. crypto market may be at risk.

Lawyer Slams SEC for Inconsistent Approach to Crypto Regulation

bill morgan

Source: X Post

A lawyer who advocates for XRP, Bill Morgan, has criticized the SEC’s approach to cryptocurrency regulations.

He argued that the SEC’s recent decision about Ethereum 2.0 leaves the status of major cryptocurrencies unclear.

Notably, Ethereum is the second-largest cryptocurrency in terms of market value.

According to Morgan, this lack of clarity creates confusion for businesses and investors.

In contrast, Morgan pointed out that a federal judge ruled last year that XRP, another cryptocurrency, is not a security.

This provides legal certainty for XRP.

In Morgan’s tweet, “Come on people. Would you prefer a letter like this sent to one company or a finding from a judge that a token itself is not a security?”

Moreover, Morgan went on to say that he believes the SEC chair, Gary Gensler, will continue to avoid saying whether Ethereum is a security.

However, the lawyer noted that Gensler can’t avoid this question with XRP because a judge has already made a decision.

So, the situation suggests that the SEC may treat different cryptocurrencies differently.