Budget, Finances

Yes, You Need a Budget! Here’s Why.

People have a bad taste in their mouth when the word budget comes up. A Budget is simply a plan for your money. That’s all, nothing more, nothing less. Think about it, we have plans for almost every area of our lives. Why not a plan for our money?

A Budget is simply a plan for your money. That’s all, nothing more, nothing less.

Often times we don’t want to budget or don’t feel that we need to do so because of thought process and our relationship with money. We all have a relationship with money be it bad or good. These relationships are formed well before we make our first dollar. Learn more about your money relationship.

I myself have been keeping  money plan since I got my 1st job during my senior year of High School. At the time I was budgeting without even knowing it. Heck I just knew I did not want to be broke and I know there were shoes to buy ( I brought a pair every paycheck) and there were senior dues.

There have been times when I did not want to budget because I knew that I would see a negative number or that my numbers where not where I had wished them to be. I am not confident about my finances when I do not take time to budget. No one should be uncertain of where their money is going or how much they will have left. I like to go to Target with confidence that I can spend X amount of dollars. The worst feeling is buying something and having uncertainty in the back of my mind of if I actually can afford it at that time. YOLO can only take you so far in life.

When I put on my big girl panties, complete budget, and my money is not where it needs to be I adjust accordingly. I have had to call creditors to change payment dates. I have even asked to skip a month’s payment ( My Amex card allowed me to do this years ago).  The creditors just want their money so most times they will work with you. The bottom line is that I would not know what my options were if I did not take time to budget.

Here are the top 5 reasons that you need a budget.

  1. Avoid unnecessary debt
  2. Gives you a clear view of your spending habits
  3. Understand where your money is going and coming from
  4. Keep a clear mind
  5. Save more

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