Why is it important to use a budget? Isn’t it going to make you look like a control freak or a boring person? Actually, the outcome of being disciplined will amaze you! Take a look at these 5 reasons why you should use a budget:
1. Free your mind to think about other things
Planning on where your money will be used provides a structured way to think about your finances. You can be prepared for the bills yet to come with no surprises. It is obvious that budgeting will not keep you from facing emergencies, some happenings are not controllable. But being prepared for the upcoming expenses is something that we can control and is a great way to avoid “headaches”.
2. Shop without straining your conscience
What is great about preparing a budget is that you know exactly how much money you can spend. So when you go shopping you buy the things you want that fit your budget and get back home without feeling guilty about it.
3. Makes it easier to reach goals
If you plan to save up for new furniture, paying off your house in “X” years, having children or saving for college…It gets way easier when you have a budget. Possibly you can achieve these goals without budgeting, but you get there faster when you are intentional about how you will use your money.
4. Helps you live debt free
If you have a debt, you can imagine how good it is to live debt free. Using a budget helps you control your finances and it can help you get rid of this situation or never get into it.
5. Allows you to help others
It is common sense that you enjoy life the most when you are living for more than just yourself. Sharing things and helping others brings a joy that it is hard t explain. Using a budget frees you to help people, be generous to others or even buying a round of drinks to your friends. And this is awesome!
These are small steps that can help you a lot. Start being intentional with your spending and saving! Great results will show up quickly.