20 Reasons to Start a Budget

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  1. A budget is a forecasting tool, so it lets you plan your future.
  2. Budgeting is a tool that helps you reach your life goals.
  3. Every dollar you save by budgeting is better than a dollar you make working.
  4. It provides a platform for communication between a husband and wife.
  5. Motivation.  When you get a clear vision of your progress each month, you are motivated to continue forward.
  6. Self discipline.  I always feel better when I’m in control of myself.  You’ll feel better when you start doing instead of start wishing – shoulda’, coulda’, woulda’.
  7. Budgeting brings to light your impulses and indulgences.  When you always overspend on dining out, you know that is a personal weakness.
  8. Budgeting makes a way for you to indulge in your indulgences.  Our family loves to vacation, but we wouldn’t be able to do it unless we said no to certain unimportant spending so we could focus on spending that is important to our family.
  9. Budgeting opens the door for more generous giving.  When you control what you have, giving becomes easier.
  10. A budget can teach you things about yourself. 
  11. Makes your mommy and daddy proud.
  12. A budget is a tool you can pray over to see if your spending patterns and habits need to change.
  13. Can force some organization into the lives of the unorganized.
  14. Helps you save for expenses you always wish you could buy.
  15. Probably one of the most cost effective uses of your time.  I bet that 15 minutes a week could save most people over $50,000 in lifetime.
  16. Creates a creative challenge allowing you to do more with your money than you ever thought possible.
  17. Puts your mind at ease when you know you’ll have money for all the bills before the month even begins.
  18. Budgeting is an important tool for anyone trying to build wealth.
  19. A budget is one of the best ways to find money.  You’ll find it hiding in your own income.
  20. Allows you to spend less time working and more time doing the things in life you really love.

Putting a Positive Light on Budgeting

I’m not sure why budgeting gets so much bad press. I’m one of those people who keeps on budgeting.  I don’t do it because of anything that anybody has said, but I do it because I’ve seen it improve my own personal finance situation. 

If you’ve wanted to start a budget and you just don’t know how to do it, in just under two weeks (August 23rd, 2010) I’m going to be releasing my budgeting book. 

Here’s what Len Penzo has to say about the book:

Like a master safe-cracker, Craig deftly unlocks the secrets to crafting a successful budget.  I appreciated his methodical and easy-to-follow step-by-step approach for teaching everything one needs to know about budgeting – it’s everything you ever wanted to know about budgeting but were afraid to ask!   Regardless of whether you earn a regular salary or your income varies from one month to the next, Craig’s ebook is an essential tool for creating an effective budget that can guide you in your quest for achieving financial freedom. 

Why do you think people should keep a budget?  Why do you budget?


  1. says

    This is a great and practical list.

    I am meeting with a couple tonight about their finances, and we are actually talking about budgeting. I plan to give them this list as a little motivation.

    Great job!

  2. says

    Great article, you listed many great reasons to start budgeting. I don’t know if I agree with the statement that every dollar saved by budgeting is better than every dollar earned working. Payday is a much happier day for me than when I look at my bank account to see how much money I have left over. Personally, I budget because I have many different goals that I am saving for and if I don’t budget I will end up spending on things I don’t really need.

  3. says

    Thanks for the post. I am sure that budgeting is very important, it’s when you have your finances in order. Saving money isn’t so complicated, the most important is to start saving. When you already have some savings and see somen result is becomes even more interesting. I totally agree with all the points in this article, I the most iimportant is that budgeting makes you financially literate and help to avoid financial problems. When the case is a bout finances, then control works maybe more than ever.

    • says

      Credit cards can be a great tool if used correctly. You must make sure you can be reabopinle with them first though.I don’t think I have created a large enough problem to remember but that doesn’t mean it hasn’t ever happened.

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