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Why Making Budgets Is Important For Everybody

FeaturedVid Dec 09

The world we live in is characterised by lack of resources. Most of the people on earth don’t have enough resources, or money to buy everything they want. This lack of money creates many problems in life and brings tension when we find ourselves unable to buy things we actually need. Now a general solution to this problem is to try and earn more money, but we all know that it’s not very easy. A more practical solution is to make budgets and spend money only accordingly.

A budget may not seem like a big thing, but it’s actually very helpful. The problem is not always the lack of money, but many times it is also spending money immaturely. Money makes us emotional and the amount of happiness buying something brings us easily distracts our mind and we go on spending money. Then what happens is that many times, we end up spending more on our wants and less important needs. Then we have only less amount remaining for our more important needs.

The change starts when you budget and estimate your needs and wants over the upcoming period. The change starts when you recognise the difference between more important and less important of your needs. When you make this distinction beforehand, and allocate an amount to your different needs in advance, then you have more control on the way you spend. You are less likely to spend impulsively because your budget calculation will immediately come to your mind. 

When you already allocate your resources to your important needs, general needs and wants, and spend accordingly, then you start living a more balanced and happy life. And this is how a budget can actually help you.


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