Budgeting is one of the integral part of human life. When I growing up, I used to think that budgeting is all about accounting institutions or accountants not until when I understood the meaning as a necessity for every sector.
Budgeting is very important because it helps one to track expenditures. Many like spending money anyhow without having a good budget. This really affects one's life and at the end it becomes difficult for one to account for any meaningful achievements recorded. I have some friends that aren't conscious of budgeting hence they lived their lives anyhow while some lived lives without a rethink of how to execute projects ahead. This normally affects them badly.
Budgeting shapes one to be a great achiever by setting goals. As I used to say any man without goals is like an individual without root. Show me a man that has a goal and I will show you an individual that has a budget especially financially. Now that they normally do this in order to curb some excesses to have a good financial perspective.
Budgeting enables one to curtail rate of debts and high blood pressure. Permit me to say that many cardiac arrest today is due to the inability to have a good financial budget. When this is not in place, one could just spend anyhow. Many people run into bankruptcy and financial challenges due to lack of good budget. When good budget is set in place, it would enable one to take an accurate financial decision.
How can one have a budget or creating a personal budget entails making a scale of preference and enumerate the vital things that one needs. You can't go for everything kindly identify the things that gives you utmost priority and satisfaction. Assign percentage to certain items and have a view on how much you can generate a month, a year etc.
I like having budget for everything so that my life will be properly refined and defined.
Thanks so much for reading through my entry.
