Budgets, Start Looking at Your Financial Health

To start on your way to becoming a Finance Smarty, develop a proper budget. A budget is a financial plan for you to follow to achieve personal financial goals; both short term and long term.


Budgeting Benefits

A short list of benefits of having a budget is it lessens stress about money, it helps you set and achieve goals for yourself both financial and non-financial, It helps you prepare for emergencies that inevitably come up. Improve your credit score which qualifies you for better rates on everything from insurance to loans. It can enable you to do much more with the money you have. A budget will help you to spend less than you make in a month. It can help you eventually pay for large purchases with cash and not credit.


Reasons Used to Not Budget

Making a budget is time-consuming, can lack a fun factor (eating cardboard can be more uplifting).  It is often these reasons people will skip budgeting and go right into investing in different avenues or paying down debt. They are all steps in the right direction. However, the basic knowledge of your monthly income and expenses gives you a better idea of how best to pay off debt, save, and invest. Purchasing a home is easier to attain a goal when you have a solid working budget.

Reasons to Stop Procrastinating

Starting to analyze your finances is important no matter your financial circumstances. If you realize you are not more solvent over the course of a few months in succession, if you are an underpaid employee, if you have inconsistent pay, then a budget is vital to help you make financial plans for your future. These reasons along with others may require you to make changes.  Increasing your income along with making some sacrifices and cut expenses to help make your goals more attainable.

By correctly budgeting your money, you will be able to more easily manage financially during economic downturns. You will make be able to more easily handle emergencies that can and will happen.  You will be in better shape when your job changes or health issues come up.


It is time for you to develop a sound budget to help you reach your financial goals through good times and difficult times. Here is a Personal Finance Budget in Word format to get you started. Do you have a budget for personal finances? If no, then why not? I welcome your feedback.

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