5 Reasons You Need a Budget in Your Life

You need a budget whether you think you do or not. Many people seem to equate a budget with lack. That is totally not true. A budget is needed no matter how large or small your bank account is. The wealthy have a budget. They know how much money is coming in and how much money is going out. You need to know the same. Here are 5 reasons you need to stick to a budget:

1.Avoid unnecessary debt
A budget will show you where all of your money is going. This will allow you to know what you can and cannot afford. You may want that MK Bag and your account may make it seem as though you have enough to purchase it. Unfortunately you forgot about that extra hospital bill or forgot that you have to renew your car tag this month. In this case reviewing your budget before spending will save you save you about $500.00 of unessary spending.

2. Gives you a clear view on your spending habits
What are you spending your money on? is it necessary? do you use this stuff? A budget will tell you all of this and so much more. We forget about subscriptions have. We may not realize that we are paying for several streaming services. Do we really need them all? $10.00 adds up quickly,lol.  Review your spending habits and take out anything unnecessary.

 

3. Understand where your money is going and coming from.
Your money should work for and not against you. A budget allows you
to tell each penny where to go.

4. Keep a clear mind
When I budget, i know where my money is and I’m not worried about if I have enough or wondering if I forgot to pay on something. I sleep well at night.

5. Save more
Knowing your budget will allow you to place more money into savings. If you feel like you cant save, maybe you can look at where your money is going to see what you can cut back on to add to your savings.

If you need to update your budget or create a budget for the first time, take the Free #Divaslaybudget and Mindset Course