Budgeting is is often associated with restrictions and not getting what we want when we want it. The excuses that we make for ourselves range from being too busy to somehow hoping things will work out. Below I’ve listed reasons why we should have a budget:
- A budget simply makes it easy for us to decide how to spend our money. When we budget we can choose our priorities whether it is putting money into savings, or expanding our wardrobe. As we assign money to different categories we can determine how much to spend where. It can help bring into focus what is most important to us or brings us the most joy and areas we can cut in order to spend money on the more fun areas. For instance, some people may choose to brown bag their lunch every day to afford to buy a new top, or a pair of shoes or a new game each week. Other people would prefer to skip buying those items and would prefer to enjoy eating out every day. What is important is to spend less than we make, but we get to decide how to spend it.
- A solid budget can relieve our financial stress. When we make a plan at the beginning of each month, it can take away any feelings of anxiety or panic that we get when we are just winging it all of the time.
- A budget can help us start spreading our money out so that it lasts throughout the entire month. If you are having a hard time sticking to your budgeted amounts and you are overusing your credit card, then try switching to cash or a debit card to cover your weekly expenses.
- A budget can really help to cut back on the fights about money if you are in a partnership. It will take some negotiation and a budget meeting or several meetings, but you should be able to reduce the amount you fight about money. Once you get used to budgeting and begin working toward financial goals together, it will help reduce the fighting.
- A budget will give you control over your income. A budget is the tool that you need to work toward your goals and to accomplish your dreams. It can help you stop dipping into savings each month and make real progress toward your goals.
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