Budgeting is a topic that’s relevant to everyone. No matter your income or financial status, you need to know how to budget and manage your money.
Budgeting is important for a number of reasons:
It helps you understand where your money goes. Without this knowledge, it’s impossible to figure out where you can save money, what areas of your spending are too high, and how much you should be saving for retirement.
It gives you control over your spending habits. When you know exactly how much money you have coming in and going out each month, you can make better decisions about where to spend it.
It helps you plan for the future (including retirement). If you don’t know how much money is coming in or going out each month, it’s impossible to plan what happens when unexpected expenses arise or when life throws curve balls — both of which are bound to happen at some point!