It’s true; there are many folks out there who successfully manage their household finances without ever using a budget. That being said, most of those people still track their income and expenses. That’s because trying to get a handle on your personal finances without knowing how much money you are earning and where it is all going is tantamount to trying to drive while blindfolded.
The bottom line: Taking the time to analyze your finances is a crucial element of managing your personal finances. Doing so uncovers hidden money leaks that help you better allocate your resources and ensures you get the most out of your income.
Photo Credit: Gastev