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Why Is Budgeting So Important?

Why is it so important that we learn how to budget? 

Money mismanagement is one of the greatest plagues of our society. I blame the education system. But facts are facts. It’s commonplace to hear a wad of excuses including: “I’m just bad with money.” I have. More often than I can count. It’s habitual and it’s eroding. 

It’s madness.

Leaving school I could do Algebra but had no concept of personal finance. 

Rants aside, this is a source of suffering for a lot of people. Society breeds us to be addicted to consuming, preying on an ingrained lack of self esteem, which they created anyway…  

Rants of rants aside, how can you better manage financial woes? 

It’s an ongoing process that begins with budgeting. Calculate your monthly income. Create some form of savings goals, be it travel, house savings or perhaps just a new pair of shoes. 

Just something to be excited about. That creates more motivation to stick to your goals. 

Put that money aside each month and don’t touch it. Have discipline. Make allowances for utilities and other expenditures. The list could look as follows:

  • Housing
  • Utilities
  • Food
  • Insurance
  • Personal Spending
  • Savings

In theory, by having more clarity over expenditure, you should gain a peace of mind. Money is the biggest source of stress in our society. By learning how to Organise yourself financially and be in control of your spending you can decrease your anxieties and move towards a better future for yourself!

Done properly budgeting gives you calm and builds wealth in the process. It’s also quite fun. Just don’t forget to pay back your friends!

This Blog is a part of our 8 Habits to better organise your life feature. Check out the full blog here!

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