Do we really need to budget our finance? Do we really need to plan our spending? Why do we need to do it? Why the planning and budgeting? Why can’t we enjoy frivolously, buying what we want and need? Why can’t we enjoy now and forget then? Why can’t we be entitled to the live style we want?
If you forget then and enjoy now and unforeseen events occur how do you manage it? Can some expenses be managed? Can the world economy be depended and relied on in years to come? Do you know that money not well managed will be accounted for in tough times or years to come? Is this not the right time to correct the financial errors you made years back to become financially free?
I once chatted with a friend who got married five years ago. He wished all the money he wasted enjoying frivolous lifestyle when he was single could be gotten back. He wished he planned and budgeted for his money. But now, he documents and keeps account of every penny used and where it went. Now, not a penny of his fall to the ground because responsibility surfaced. He accounts and document for every penny used. Once his salary comes in, the first thing he does is to budget his money. He never spends above his salary, saves and controls his spending.

What is budget? Why do we really need to budget?

BUDGET is planning your finance for future savings, spending, investing and listing out future income and expenses.
It is the money set aside to manage your planned expenses and project for the future.

The budget might be to have excess money for use in future time or to manage your expenses not be greater than your income. It helps to avoid being a failure in what you aim to achieve. It makes your plan goal- oriented, specific, smart and achievable. Budgeting is another financial map to guide you to your desired financial destination of being financially free.

Corporate body budget for their business to have a great year and manage expenses, salary payment, liabilities and others.

Government budget to plan for revenues and expenditures and projects to handle for the year.

Personal budget is a financial plan used to manage income towards expenses, savings, investing, debt and others. This is how we really plan our spending to become financially free. It helps to have enough money to do things you need to do or start that side project you need to invest in.



With budgeting, it limits your overspending and help you not to drown in debt. It helps to always delay gratification for the achievement of financial goals. It helps close those chapter of excessive spending which has developed into a bad habit. Its helps to rethink and helps focus on road to financial freedom.
Knowing where your excesses going, you can easily cut it down like eating outside or excessively, transport, bills and materials things. With this, it helps you cut it down or either manage it to help achieve financial freedom.

With budgeting, it helps you plan for that side project, helping you know how much to set aside for the project, the financial implication and how to achieve the goal.

It overcome any financial issues ahead and worry less about it and help to make adjustment to your finance before the problem expands or surfaces. with spending limits, it opens opportunities to see more money and know where to categorize it.

You become a better money manager and accounts well for any amount spent, you become accountable and held responsible if your money is well managed or not. It gives a pattern organized pattern for spending your money.

With budgeting, you will be able to create plans to settle and pay off your debts and live a debt free life and plan your finance well. It now gives you the chance to grow your savings, plan for investing a portion of your money to make your money work for you and know how to spend, control spending and have a future financial forecast to become financially free.

With budgeting, you will plan for retirement which is vital for wealth creating. You can create the retirement account if you don’t have, budget a portion of your income into the account monthly or the bank automate it for
future reasons, this budgeting for retirement needs great attention.

When your income comes in, you break it down to know how to budget and what you are budgeting for and why are you budgeting for it. Planning for your finance also show there’s a change of habit and want to know what’s wrong with your finance and where you are spending excessive and make the right financial decision.
Communicating plans for your finance with your family help project for family needs, educational plan for the family, vacation, buy the car and achieve a desired family goal.

Once you become financially aware of your situation and its structured by knowing what goes in and out, you will easily achieve your financial goals for the year you will easily create budget for all expenses from daily, weekly, monthly and yearly. Also, create budget for fun and entertainment and have a great year.

With budgeting, you plan for unforeseen events or expenses that can occur in any time of the year and manage them well without affecting your finance or even destabilizing you in any way.

With these valid points above, we now know why we budget and how invaluable it is to become financially free. With budgeting, your finance has a map guiding it to its desired location.



RAWLINGS BLOG is about finance, business, short-stories, technology, biography,motivation and personal development. email:Rawlingsunday@yahoo.com FB: Rawlings okpaloafe twitter:Rawlingsunday watsapp:+2347011832778
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  1. CherishingFLo says:

    I need so badly to set a better budget for myself. This is a wonderful post!

  2. monicavaklinova says:

    That was such an interesting read! I never knew there are so many kinds of budget! Thank you so much for sharing and educating me! Great work!

  3. You covered almost every aspect of budgeting. Thanks for telling, it’s really helpful amd I got motivated to start doing it againn😍

  4. Thank you for sharing wonderful information why we need to budget our money. It is a must read one for everyone.. Liked it

  5. kearsez says:

    It is so important to have some money put aside for unforeseen events, I’ve had a few times my budget was going great till my car broke down and I have to pay $1,500 to fix it… puts you a little under! Thanks for the article 🙂

  6. Claudia Campbell says:

    Each and every one of these reasons are very important but sometimes we tend to forget so thanks for sharing this!

  7. abhinavuniyal says:

    Your blog helps me recall a quote about what the money says, “save me and I will save you tomorrow”. Relevant points on budgeting…

  8. Great advice! I often give similar advice when talking to people about finances. People get intimidated by budgeting but it’s seriously one of the most important things that you can do for yourself.

  9. carefreespiritfairy says:

    Very valid points. Now more than ever I am trying to keep a budget

  10. thedmichelle says:

    Yeah, this just confirmed that I should budget my money better. Thank you for this!

  11. This is such great advice, thank you!

  12. John Mulindi says:

    I totally agree with your post. Budgeting helps us to priorities and buy things that are important and at the same time saving some money for future or emergency use.

  13. iammyinspiration says:

    I just came back from shopping 😁😁. But thanks to you for reminding me to maintain my budget. 👍

  14. Manjul says:

    Good info on budgeting. Loved reading it

  15. Faizah Carr says:

    *sigh* I need to do ALL of this…..I’ll get right by February

  16. DD´s blog says:

    I like all your posts… nice tips and this time 🙂

  17. yourplatewithcait says:

    What a great post! I completely agree that it is so important to make a budget and stick to it. Right now, my husband and I are having to pull from savings in this season and it is KILLING me! I am such a budgeter, and when expenses are exceeding income, it’s really hard for me to not stress out. But, it’s just this season and I have faith that everything will work out.

    Thanks for writing this post – it’s a great reminder to me that my family needs to tighten our belts where we can so that we are good stewards of what has been given us.

    • Why you touch your SAVINGS is because your finance is not well- budgeted or your expenses well- planned for that is why you touch your SAVINGS and let it exceed your income. You need to create plan too for unforeseen events to help manage your money too. Thanks.

  18. mj says:

    This is one of the essential things about life, budgeting. its not easy but in a long run you’ll always be the one who will benefit from it in the end.

  19. This is a really great post. I really need to hone my budgeting skills

  20. Diana says:

    Great advice! I completely agree that it is so important to make a budget and stick to it. Loved reading it

  21. Ramelle says:

    Very good information, I need to start working on this now.

  22. I struggle with sticking to a budget. Thanks for the reminders of reasons why a budget is important!

    • You struggle with it because it’s not well- planned. When well-budgeted, your income will be set to work from SAVING, SPENDING and INVESTING to give help manage your money well. Thanks

  23. Brie says:

    This is fantastic advice. We just began budgeting and it is hard to sit down and do but you feel so liberated afterwards!

  24. Know what, as a lifestyle blogger, I have to limit my expenses. I am looking for an inspiration to start budgeting and whola! here comes your well-written article about budgeting. Thanks a lot!

    Gee Nacion
    Filipino Lifestyle Blogger

  25. DD´s blog says:

    Hello Rawlings, I’ve nominated you for Sunshine Blogger Award, this is the link to my post on your nomination, rules and questions. https://liveandlove17.wordpress.com/2018/01/27/sunshine-blogger-award%F0%9F%8C%9E-my-1-nomination%E2%98%BA%EF%B8%8F/ 🙂

  26. Thank you for the excellent advice. People need to make budgeting a priority.

  27. Kaye says:

    I always enjoy reading posts about budgeting and personal finance. This post summarises all the essential points needed. Great post. 🙂

  28. Fantastic advice – thanks so much for sharing!

  29. Jacqui S says:

    These are great reasons! I’m currently laid off from my job, but, as soon as I get another one, back to a firm budget.

  30. Good post. I need to start thinking about the retirement bit. I hadn’t thought that far ahead yet haha

  31. I have always budegeted! It’s so important to think about and do.

  32. Bongani Mdletshe says:

    Is it right to have credit card?

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