Saturday, December 13, 2008

Making a Budget

I write a lot of articles for and one of my latest was about how to create a budget. You may not think you need a written budget to keep track of your finances, but managing money is not as easy as you may think. The last thing you want is to develop debt or poor credit so early in your life. Plus, a budget helps you safe up for a big purchase or future event (like marriage or starting a family).

Top 5 Reasons to Make a Budget.
  1. It helps You Pay Bills on Time: By sticking to a budget, you always have funds available for your regular bills.

  2. It Builds Your Credit: Paying bills on time means your credit score wont go down.

  3. It Prepares You for Emergencies: A good budget helps you save money each month to create a "safety net" should something go wrong.

  4. It Helps Your Reward Yourself: You can factor in big purchases (like a new television or trip to the Caribbean) and save steadily for something you really want.

  5. It Makes You Feel Good: A budget also tracks your income, which helps you see how much you're earning and saving. What a great self-esteem boost!
So, now that you know the reasons why you should make a budget, check out my article for some great tips to get you organized.

1 comment:

  1. Great column on the importance of making a budget