Budgeting – Why do I need a budget?

• BBR Productions Inc : Budgeting – Why do I need a budget?

A detailed Budget grants control. An organized budget opens doors for allocating savings, security, and freedom. If done correctly, maintained, and given proper attention, a budget also develops good habits. Habits that help build stability. When a spending budget is designed it sets boundaries which lead to freedom purchases: a vacation, new car, maybe even a house. This is accomplished by setting money aside for savings.

Savings is something people must earn. Blindly dedicating money into a savings account could destroy a Budgeting System's Foundation. A budget will dictate when an individual may allocate money earned into their savings account. Having a budget helps direct money into a Savings Account to fuel a person's 3 Needs of Purpose. Savings should never be utilized for emergencies. A Budget helps with emergencies by setting aside moneys to accommodate specific situations.

Emergencies can throw monkey-wrenches into a Budgeting System's Foundation. This is why sticking to a strict Budget eases worries and situations outside of an individual's control. There is nothing more satisfying than hearing a car needs a new axle and all you have to reply is “Sure, make that happen!” This is why every person in the world should have a Budget. Even when more money is going out than being earned, a budget sets up the habit of slowly taking back control.

PS... Can you find the monkey?

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