![]() ![]() If you’ve got a clothing or personal spending budget line, and there’s money in there to buy the new sweater-buy it!Īnd savers, a budget gives you permission to stash cash, without being a Scrooge. Having a budget gives you permission to spend-guilt free!īecause when you’ve got everything covered in your budget, you know there’s space for spending! You won’t worry about the electric bill not getting paid because you decided to treat yourself to a new sweater. I used to worry budgeting would mean I’d never have fun with money again. Budgeting gives you permission to spend (and save!). And let me tell you, the feeling of empowerment and peace you’ll get from this shift is incredible.ģ. True, it’s sometimes hard to get ahead-but it isn’t impossible! You don’t have to live in the past with your money, and you don’t have to get by just barely.īudgeting is the first step to go from surviving to thriving, because budgeting puts you in control of your money. Or that inflation makes it impossible to get ahead. Or that debt is normal, so you’ll always be paying off the past. That living paycheck to paycheck is just the way of life, and you’ll always watch all your income go out the door the same month it comes in. ![]() I know it can feel like your money is happening to you. What happens when you plan where your money goes? You show your money who’s in charge. Budgeting puts you in control of your money. And that plan leads me to the next point.Ģ. When you make a budget, you tell your money where to go-and stop wondering where it went! So, one of the top reasons for budgeting is that it gives your money a plan. So, why wouldn’t we make a plan for something that literally touches all these aspects of life? I’m talking about money!Ī budget is just a plan for your money. We make plans for our careers, goals, holidays, vacations and a million other things. Here are six reasons why budgeting is right for you. So, I want to share some of those budget benefits with you! But when I saw all the great reasons for budgeting, and I started taking it seriously and making a budget every single month-well, the results won me over. Now, before you think I’ve loved budgeting my whole entire life, I want you to understand something. Because I can sing the praises of this money habit all day long! That way, you can ensure a portion of your income is spent in these areas early on, instead of waiting to see what's left over at the end of the month.If you’re looking for reasons to budget, you’ve come to the right place. Make sure to include any savings goals or debt you want to pay off as well. This strategy is endlessly flexible each month, you can tailor the categories of your budget to your specific needs at that time. You can also adjust your budget categories ahead of time when something arises. You can plan for irregular expenses as well by adding a miscellaneous category to your budget. If you earn $3,000 per month, then you want all of the line items in your budget to add up to $3,000, leaving you with $0 at the end of the month.įor example, you may allocate $1,000 for rent, $150 for utilities, $150 for food, $500 for savings, and so on, until your entire monthly income is used up. The goal is to have every dollar you bring in accounted for. Second, make a list of all the categories you spend money on, like food, fun and transportation, and assign spending limits to each one.
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