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Benefits of Budgeting

Tuesday, October 14, 2014

It was such a surprise to me to learn that 60% of Americans do not budget! I think the reason is because many people associate a budget with having not being able to spend money on fun stuff. This is not the case! A budget is really just a plan for your money.


Here are some of the benefits we've personally experienced since starting our budget in 2013:
  • Getting (and staying) out of debt
  • Living within our means
  • Determining areas we could cut back
  • Increasing our savings
  • Not stressing about unexpected expenses because we have an emergency fund
  • Planning and paying for frequent vacations
  • Not going into debt for our wedding
  • Not worrying about how we're going to afford Christmas presents
  • No fights about money because we know and agree where our money is going
Other posts about money and budgeting:
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Linking up with That's Fresh Friday

2 Responses to “Benefits of Budgeting”

  1. What do you think is a good amount to have left over each month? You don't have to reveal your amount but an estimate perhaps? Currently I have about 15% of my take home "left over" each month and it never seems like it's enough!

    ReplyDelete
  2. I think you're asking how much money is left over at the end of the month after we spend the money in our budget? We don't have any money left over because we have a zero based budget, which means that all the money in our checking account is spent each month. We save first - some finance experts refer to this as paying yourself first. As soon as our paychecks show up in our accounts, money automatically goes to our savings accounts. The money left over in our checking account is what we spend, and we typically spend all of it. We currently save everything that I make, and we live off my husband's income. Percentage wise, we save about 40% of our household income. If I misunderstood your question, feel free to email me at renovatingrebecca at gmail dot com!

    ReplyDelete

Comments make my day! You can also email me: RenovatingRebecca (at) gmail (dot) com