what is the importance of budgeting?

Answer 1

So we don't over spend.

Answer 2

A budget is more than your way to control expenses it is also a way to PLAN for future expenses. Do you want a new car, a house? How much money do you have saved, how long will it take to save up enough money for a down payment? Can you make the monthly payments, what about the required insurance payments? A budget will answer these question and more.

It is also a way to monitor your expenses. How much did you spend on eating out last month, last week? Are you spending too much on this?

All successful business people have a budget. How else can Donald Trump know if he can buy that next great property? What value does he put on his time? Is his show “The Apprentice” worth the time? NBC can't be paying him enough money, but the publicity is priceless (and NBC is paying for it!). He also has started to bring his family in. Who do you think he wants to be the next business professional on the cover of Time Magazine? His show is more of a success than Trump Towers was and instead of sinking a mint into it he is getting paid to do it! How’s that for a successful plan. Plus he gets some of the top people in the US to come to work for him. NBC sends him the best of the best. Then he gives them difficult tests just to make sure they qualify in the longest and toughest job interview ever designed.

A budget is a plan for success, and success just doesn’t happen.

Answer 3

A good budget will over time give you down payment for a home a new car every 3yrs for the rest of your life, send your kids to school, help your grand children , an a nice rainie day fund.

Answer 4

It will give you confidence in handling your money the right way. It can help tremendously if you are an over spender. Teach you to be responsible. When I forget to do it or skip a month then I am a mess not only in my purse and checkbook but also in my attitude towards all things in my life.

Answer 5

Well...let's think about this. You make one thousand a month, and have one thousand-five hundred in bills...You didn't budget! Show you importance?

Answer 6

Budgeting helps to arrange one's priorities. If priorities are kept in order, every other aspect of life will tend to go smoothly.

Answer 7

They say anyone can make a million dollars in their lives if they can budget and save

Answer 8

If you do not know what you make and what you spend you will always be a slave to your debt. Learning to live below your means is your way out! Freedom cost! That isn't just the best answer it is the only answer.

Answer 9

You'll have this question answered when your house is taken by the bank, your car repossessed and you can't ask questions like this anymore because your electric bill has been shut off.

Answer 10

If you don't: You'll never get what you're dreaming of owning; you won't be able to pay all your bills; you could wind up with bad credit; you'll never have any money in the bank; you'll be living paycheck to paycheck--which could mean homelessness, if you're reckless with your money.

Answer 11

For the times when you wont be getting an income and dont say well i dont have to worry about that because you never know i just wish i had have learnt this earlier in life.