The Importance of Bugdeting

Making a budget is by far one of the best things anyone can do to be financially responsible. A budget can help in so many aspects of financial planning, such as, goal setting, understanding consumption costs, estimating monthly income, cutting expenses, or planning for a big expense or family change. I think no matter how much money someone makes a budget is necessary for anyone. Budgeting can help on a day to day basis and also help plan for to buy a house or retire. Someone who is havine difficult managing their finances may find budgeting helpful by letting them see places they need to cut expenses, such as the cost of eating out every night. Instead they could cook at home to save money and reach their goal of financial independence.

I came to his conclusion because my parents have also taught me budget my money whether I had $1 or $1000, they have always tried to teach me the importance of money and how to respect money. Also after reading chapter 3 I found a lot of great reasons to budget as I mentioned above. Budgeting can really help someone save money. If anyone is serious about a financial goal they have, budgeting is a must!