It’s true; budgets aren’t for everybody. After all, there are many people who have minimal debt, pay off their credit cards in full each month, and have little trouble saving without one. However, there are just as many who need a budget to track expenses, control spending, set aside cash for retirement, and save for vacations and big-ticket purchases.
The bottom line: Creating a budget isn’t the answer for everyone. But for those who need one, budgets are an important tool for controlling their personal finances and providing the ability to make calculated decisions about how to allocate household income.
Photo Credit: brad montgomery