How Budgeting Can Benefit You
If you think that budgeting is only useful when you have run out of money - it's time that you experience the many benefits that budgeting holds for you, both short and long term, regardless of your financial position.
When you create a personal budget you can enjoy the following benefits:
With a budget you can get a crystal clear picture of what you are spending and where.
Chances are that you have a rough idea of where you are spending at the moment. But it's also likely that you are spending more on certain things that you think you are. Budgeting is a valuable self-education tool, which shows you how much money you have, where it is going and where it is going to have to go in the future. No more nasty surprises.
Budgeting gives you power over your money, rather that your money having control over you.
Control allows you to decide how you want your money to work for you, whether it be saving, investing or eliminating debt - you will have the power to decide what your money does and when. Having control of your money allows you to take advantage of opportunities you might not previously have been able to.
This provides a greater level of financial security for you and your family.
Having your money under control with a budget will bring new freedom and opportunities.
There might have been opportunities that you may have missed because you weren't sure you could afford them - such as the opportunity to save for a house, or a car, or to invest.
There are lots of ways in which budgeting money & planning ahead can save you money.
These three examples alone can save you hundreds of dollars a year.
Not only can budgeting save you money, but when you combine budgeting with opportunities such as saving or investing you have the ability to make more money!
Better organisation can be achieved through budgeting because it will provide you with
a better system of managing your personal finances - your incomes, expenses and savings.
The best part is that you can begin today, using a simple software system, and be up and running in less than 60 minutes.
No more shoe boxes full of receipts, no more wondering "where did all the money go?"
Communication about money is very important between couples.
A budget can help you to communicate your ideas with your partner, allowing the both of you to discuss what you want to do with your money - now and in planning for the future.
A good family budget provides you with a plan that both of you should be able to understand - your financial position, your goals and what you have to do to achieve them.
What Budgets Get Real offers you
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The information appearing on this website is for general information only and should not be taken as constituting advice. Informed Choices provides no warranties and makes no representations that the information provided or linked to is correct, complete or reliable, or appropriate for your circumstances.