True, not everybody needs a budget to successfully manage their personal finances. People who have minimal debt, pay off their credit cards in full each month, and have little trouble saving can often get by without one. For most folks, however, a budget helps them track expenses, control spending, set aside cash for retirement and rainy days, and save for vacations and other big-ticket purchases.
The bottom line: A budget is not just a plan for your money. It’s an important tool for keeping finances under control and providing the ability to make calculated decisions about how to allocate household income.
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