Reasons to budget
Reasons for keeping an individual or family/houshold budget are as diverse in their purpose as people's individual needs and goals. Specific reasons lead people to create and use a budget differently. Reasons to keep a budget include: not to spend more than there is, put aside money for retirement, reduce debts, pay off a mortgage or save for a vacation. No matter what your budgeting reasons or goals are, keeping a budget is essential for financially savvy people.Daily living costs might eat up the best part of the revenue or the calculated budgetary allowance of the bank leads to excessive demands. It happens that people struggle to keep up with their bills or have to think twice before spending anything to make sure they can cover any emergency expenses, such as a broken water heater, an unexpected medical bill, or car issues. These emergencies can happen to everyone, but not everyone is prepared to cope with them, moneywise. In the long run, you have to watch out not to keep spending "tomorrows money" - financial ignorance can be very expensive and even ruinous for some. I have made some poor economic decisions myself because I did not always take time to think things through, financially. That's why I came up with this Excel budget spreadsheet; this is just one example of many possible budgeting systems that can pave the way for whatever your reasons to budget are.