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Budgeting is very important for everybody that makes money, including companies and governments. So far you are getting money on a regular basis there is need to have a budget for how you spend the money. Even when you are gifted money that you didn't plan for, there is still need to make a budget so that you don't waste it on things that are not important to you. The simplest definition of budgeting is having a plan on how to allocate money so that you will not misuse it.

It is said in economics that human wants are insatiable so you have to know the difference between wants and needs. As human beings we want many things that we can't afford so we have to focus on our needs (essentials). Then we have to prioritize the 'needs' and the most important one is the first to be allocated funds to, then the second and down the hierarchy.

It is the same for business people and governments, they have to start from a planing stage and arrive at allocating funds according to importance of their expenses and projects.

Budgets requires discipline, what does not fall into the plan should be carried over or suspended. You can add other importance of budgeting that you know so that we can all learn from each other.

If anyone don't understand this basic thing such as budgeting then they should not be in business or have anything to do with finance. OP you did a good job but have honestly post like this are basic, this type of post will have a good fitting for  beginners and help. This is a vast forum and the economy board of the forum talking about very basic thing like this that is obvious as day light is a bit cringe.

Contentment is very essential in managing a budget.  When people want to buy even things they don't really need, it affects their financial plans. We should have control over what we spend our money on because it is not everything we actually need.

There have been some threads on budgeting recently and it's just cool because,  financial plans are essential.
The usefulness of budget as a bitcoiner (https://bitcointalk.org/index.php?topic=5539858.0)
Do you know how much you spend on various bills a week/month? (https://bitcointalk.org/index.php?topic=5540100.msg65333501#msg65333501)

If you want to live an orderly and prosperous life, then there must be a budget in your life, even for the smallest things, such as giving to others from what you have, because budgeting is that important in this life.

okay we can see who lives an orderly life, most of them live happily and stably, because they will anticipate things that they cannot predict that could come into their lives, we must see that life is not flat, when you get a salary and profit every month we must realize that it will not happen forever every month or every time we do business, therefore budgeting is very important for the endurance of a more responsible life.

This boils down to the idea of knowing your priorities in life. Stick to your basic needs, and set aside your wants so that budgeting can play its vital role and can be performed in a well-organized manner. This is not only for the poor individuals who always lack money, but even to those who have accumulated wealth on their bank accounts. The more money you have, the more you will practice budgeting as it becomes a guide to track your expenses and manage your finances.

Money is something that's expendable, no matter how much you think you are earning if you don't have a budget you would always end up broke. Setting aside a budget for the things you want can prevent you from spending wrecklessly. People who don't have Budgets end up using their money get things that they didn't even plan for in other words things that are unnecessary for them. Everything you are going for should have a specific budget don't just spend anyhow.

Most companies are profit looking organizations so they really need to allocate budget well because they are gonna want to minimize the amount of money they will be spending and maximize the amount of money they will be receiving. As for the government, they of course need to budget well because money is limited and they need to work with what they have to sustain the entire country and make it better.
We should take inspiration and do this as well. You’d be surprised by how much control you will feel with the money you have.

Its just the basic thing to be done but tons of people do failed out on following it out on budgeting. It all matters about on how you do balance your expenses with your earnings on which if you are buying up things on which that it is that getting huge slice into your income and turned out that those are useless things or not that needed, then sooner or later you will definitely be experiencing that overdropped. We do know that we do have even more priority when it comes to expenses like food, shelter and insurances and emergency funds but if you are someone who dont care that much because you are prioritizing wants instead of needs then you will definitely be ending up on having that huge problem later on which you do have that regret that you shouldnt have done that but well its already too late. People do make out learnings when they do experience out shit conditions.

Well that's the general gist of it. To give some obvious benefits well, being able to generally keep track of your finances actually helps a TON when questioning where tf did your money go. And from there you can plan out a lot of stuff for the future. Investments, stocks, bills, vacation plans, etc. can even make one for like half a year and see whether you hit the mark or not, and then adjust as the events happen.

Except for Overtime Pay. That shit almost always 100% goes to entertaining yourself like food, short trips, hobbies, etc

However, budgeting can be learned if there is willingness to learn. So I don't see any reason that it will be a barrier if you want to build a business or anything that pertains to money management. Real-life experiences will serve as the best teacher, and your own mistakes at first will leave you a big lesson on how important budgeting is, and how it should be done properly and organized.

Budgeting is good because it saves you from spending money on things that are of less importance to you. Budgeting makes you to identify the things that you needed and not things you wanted. Without budgeting, funds will be mismanaged due to wrong financial decisions. To show how important budgeting is, every country has their own budget annually and everything they need to do is being followed from the budget. Budgeting requires a proper planning and even if you must go above your budgets but you won't lavish money extravagantly.

The budgeting system in Government is usually much more intricate and complex than the budgeting system in a Company, although there are some similarities between the two. Budgeting is usually based on a plan short term, medium term, and long term, which makes it easier to realize. Of course, along the way there are adjustments, due to certain situations, but it does not make what has been planned to be stopped.

Managing a personal budget is much easier, but it requires self awareness to implement, there is no control from other parties, as is the case in companies or in Government. By determining priorities and distinguishing between needs and wants, I believe everyone can manage their personal budget better.

Actually, budgeting is a discipline and it's part of it. This also includes saving and moving on to the next part of it which is investing. But when a person gets over with the beginning then that's how they'll determine themselves on how to be a better person. But, budgeting is never out of it. We become a better in handling finances if budgeting is a part of it and we're seeing the important matters that we need to spend money for and have to remove those that are not part of it. We learn from our own and we don't want to fall into having a bad life because budgeting is part of survival.

I’ll admit, this is something I struggle with too. Even if I’m earning a decent amount, it’s true, when your income goes up, your expenses often follow. That’s why budgeting is super important. It helps keep life less stressful and more balanced.

There are so many things we can buy with money and temptation is always around the corner. The problem starts when we give in and go over budget. That’s when the issues start piling up especially if unexpected expenses come in, like emergencies. That’s when it really hits.

I learned about the topic of budgeting since junior high. I also learned about it in senior school. Every year, the parliament approves the budget for the country presented by the president.

In organizations they have budgets prepared before embarking on different projects. They even have for the fiscal year. Budgets work in these situations. From my own experience, budgeting hasn't worked for me. I barely write it down . I only have it in my head because it is either I overshot it not consciously but because of inflation of prices or I completely abandon it.

Budgeting is important but you must have enough to do it well.

budgeting is not just about putting pen to paper working out income vs outgoing. as thats just accounting
budgeting is not just about prioritising money towards important needs. that is again just accounting

budgeting is actually about understanding the costs of things, to find alternatives that cost less, in essence reduce the spend amounts

Nobody has a monopoly if knowledge, what you don't know can be learned from others that have experiences in the area, so budgeting can be learned inorder not to spend unwisely. In this generation you don't need to go to school or enroll in a course to learn about budgeting, AI and Google can give you answers and share links that can help you to learn. It is not necessary to understand the importance of budgeting from your own mistakes because you can go bankrupt and be in dept before you understand. Increase your knowledge about budgeting from other people's successes or mistakes, also take advantage of the internet to learn.

The hardest part of a budget is implemention. I am sure many people have well articulated budget that failed during execution. Finding alternative is very important in budgeting because there are always cheaper substitutes.

When I saw that imported cereals where expensive for m to buy for my children, we had to switch to locally produced foods. We also observed that house rent is increasing in urban areas, which made us to relocate to semi urban areas where houses are more affordable. My family also considered homeschooling as alternative for sometime until our finances increased.

Budgeting is important for you to be able to spend your money on things that you have planned well in advance. With budgeting, it will prevent you from spending your money impulsively and make it easier for you to manage your money. The impact is that you can prioritize which needs are the most urgent, you can see where you have spent your money, and arrange how in a month you can use your money properly and sufficiently.

Many people underestimate budgeting.. they don't think it is an important thing and only spend money when they need it. In the end, when approaching the end of the month they realize that their money is running low and they are confused about where their money has been. With budgeting, things like this can be prevented.

When you don't make financial budgets, you will end up in financial crisis because a good budget planner will be successful and can achieve financial freedom. Budget will help you spend within your income and also help you prioritize your needs first before any other thing. It controls you on how you manage your income and have something to save at the end of the day.

One needs discipline and contentment in order for him to be able to excute his budgets successfully and achieve his goal.

Yes, sometimes it doesn't fit the budget and this will always happen if we live in a place or area that doesn't fit our income, except for our own home. And I've felt it when I really didn't have a house to live in and the budget was messed up to the point of having to limit or replace some important needs with cheaper products so that finances could be sufficient by limiting including electricity usage and also things that make finances insufficient and replacing or limiting them. So the budget that is made must be in accordance with income and also adjust to the existing location which sometimes makes the budget sometimes deviate, but now I live in my own place with a location that is still very cheap even though it is not too crowded like in the city but I am comfortable and calm not noisy and the budget is also loose which allows me to add Bitcoin purchases periodically and also to save as an emergency fund and both can increase up to 10% from before from my income.

It is not a ruse that the popular saying by Benjamin Franklin that " he who fails to plan has already planned to fail" is trite. This is the beginning of all that has to do with budgeting. Although, the coinage budget pertains to finance and spending but it also extends to individual planning of themselves and life. If you are luckworm type that seats down and expect "manner" to fall from the sky to hit you, you might have as well been hallucinating and that is why I choose that Benjamin Franklin's quote. You have to plan everything about your self from finance (investment and spending), time and schedule, education which will definitely affect your future. So to budget how much you are to spend coincide with how much that comes to you as resources available to you. Thus, we have to talk budget with investment profits and therefore, while budgeting is going on, we need to also plan how to get more resources while managing what we already have.

If someone gifted me a money that I don't really expect, I see it as my discretionary money. I am free to use it anywhere I want and use it to treat myself like eating outside or spending more on groceries.



Budgeting teaches you the importance of financial literacy. When you know how to budget, it means you are also able to save, invest, and manage your debt. You are able to divide your salary in a way that it won't compromise each other until the next pay day.

Making a budget is important, but it's not about avoiding waste. Before the money comes in, you need to know what's important. If you don't, the money will decide for you. People make budgets because they are afraid they won't have enough, won't fit in, or will miss out on something. That is not making a budget at all. We need planning that is based on clarity, not scarcity

Governments waste billions of dollars not because they don't have budget plans, but because politicians like to look good in the short term. The same is true for people: dopamine now, sorrow later. To make a real budget, you must first get rid of your illusions. Do you really need it, or are you just wanting to feel something?

Our economy is set up so that priorities are reactive. Turn it over. Plan your budget with an active attitude. Spend your money on the person you're becoming instead of the customer they sold you

Money is a fact of our life that we can never deny. We need money at every stage of life for our own security, the security of our family, and the security of our loved ones. But we can maintain our budget in the same way that we save a third of whatever we earn and in the remaining amount, we manage our expenses and whatever we have to do. If we are not able to manage it, then we should increase our savings. Because the savings that are in your life, the savings that you make in your budget, are your security. Your life is very dependent on them. You do not know where you are and what things you may need. Well, the savings that you have will be useful to you. And if you do not have any savings and sometimes something happens that you did not even think about, then the whole of you will be broken.

There are people that are over confident in what they earn, they feel like it's unnecessary to have a budget because they have a constant flow of income. Having a budget very important because it helps you save money, no matter how much you think you are earning right now if you don't have a savings then you are setting yourself up for a serious trouble. Your daily expenditures should also be budgeted, this is important so that you won't overspend, this doesn't make you stingy but wise.

You are right. I told one of my friends the same thing you just said, and he was arguing with me that even in scarcity you should budget, and I told him, What is the use of budgeting while suffering for another thing that needs to be taken care of? That is not good planning. The most important thing is that while budgeting, you should make sure that what you are budgeting for is something that is very important to be prepared for at the right time. You budgeted the funds; planning should be based on what you need at the moment and will benefit you.

Budgeting simply means planning on how money should be spent. One thing about money is that it is just like a substance that evaporates. When there is no plan on how money should be spent, it is very easy to spend all the money, no matter how big the amount could be. Budgeting money is very important, and it helps one think carefully about how to invest money. Without budgeting how money can be spent, it is impossible to invest money.

Financial discipline is very important in recreating money. There are some people who lack it, and they are earning a good amount of money but have nothing to show for the money they earn.

This is the part that is more interested, so many people usually do this, they spend above their budget even if it requires them to take a loan from friends or colleague at work place. I have witnessed some and my dad have also told me about his colleague that usually take loan from other colleague every month, meanwhile his paycheck is supposed to be enough for his needs but he lacks budgeting and spend on non important wants. Due to his habit, before he gets a paycheck, he has already spend all the money, that's why he take loan from friend. The importance of making a budgeting before spending can not be overlooked.

Regrets will be always at the end and if you arent that realizing it earlier then it will be giving out some problems later on at the time that budgeting problems will be starting out to take out some effect.
We do know that on how important budgeting could be and if you arent that good when it comes into this manner then sooner or later that money of yours will be that overdropped or you would be ending up on being broke, specially on the time or moment that you have lost that your main job and you dont have any back up plans or money that being saved just because of lavish or careless spending? You would definitely be able to learn your lesson when it comes into this manner. Budgeting is crucial, it might be that very basic but this is what you do need up to consider at the time that you do recieve your income or salary then always prioritize on what are the things that needs up to be prioritize first. If you do have that left or extra then this is where you do consider out on putting up into some worthy use like on putting up on investment or business on which it will be giving out that opportunity that you can be able to add up your income stream. Even though you do have that new income stream then its still that recommended or still crucial on having that budget. Usually the most common thing that do happens is that whenever you do have that bigger income, the life status or style changes on which its pretty useless on having that bigger income but your spending or expenses had become that more bigger too. There are those people who do able to mind off and act accordingly but there are those who are just that not mindful and just made out or learn out their lessons later on.

The thing about budgeting is that many individuals are not taught the subject early enough in life as a sort of financial education. They begin to start self-educating themselves on that subject because they see that it is important if they are to have any chance in trying to get wealth, and many are doing it wrongly. If more individuals are really educated on how to set up a proper budget, I'm sure they'll be able to achieve their financial goals much better. There are people who say that budgeting does not work, and they say that mostly because they do not know how to set up a proper budget.

The role of budgeting in life can't be ruled out because it has a significant role to play a crucial role to play especially in the development process of any human being who is ready to have financial freedom and management  in this era of inflation where the prices of things are skyrocketing budgeting will help us to not go into financial problems because if one is able to manage the little resources coming in by way of budgeting it will help that individuals so budgeting is a key factor to consider when it comes to building your self up in life

Op, One should make plans for the investment and everyone should invest money on useful things. This topic is not related to only companies and government but it is also for the individual who want to earn more money in life. We have money but we should keep 30 percent on side then Invest that money on useful things like cryptocurrency and gold because these will make us rich and also we can but USDT because it's price could go up and we can get profit from that. Everyone should invest money but not only save money because millions of people are saving money but they don't know how to invest money. There are thousands of people who got profit from cryptocurrency,so that is best investment and we can achieve long term goal by investment in wonderful project.

Just like it is been said he that fails to plan has already planned to fail.
 
Hence the need for budgeting cannot be over emphasised as it plays a very vital role In any aspect of life. When dealing with money if we don't plan we are a failure already. When you have a budget, you discipline yourself, so, in bugdeting dicipline is also a watch word as decipline will help you to follow your budget.

Let's take a good illustration of a woman going to the market to buy things , if she has a budget she will buy and achieve the aim of her going to the market by buying the budgeted items, but if she does not have any budget, she will end up buying any thing that catches her sight.

Hence, budgeting is very important in a society and even individually. 

Budgeting is a way to maintain financial discipline, a lot of people feel like that's there's no need to apply this because they have a constant stream of income but that's actually a wrong way to think.. having a budget helps you saves money and it would help you spend wisely. If you are the type of person they earns monthly it's important for you to draft out what you are planning to spend, this means cutting out things that are not necessary in order to save cost, spending lavishly doesn't mean you are better than those that don't.

Budgeting is not even for the poor, nor for the rich; it's important for those who are in the middle, which means that they are not rich, but they are not poor. They make a bit more money than they need for their expenses, and they are supposed to have a proper budget so that they can save some money from their income instead of wasting it all by spending carelessly or not keeping track of where the money is going.

I say that because someone who is poor and barely makes enough money to feed his family thrice a day doesn't need to have a budget because they earn and eat and that's all, and sometimes they don't even get to eat because they might not earn anything as that's how manual labour works, you don't always have work. And, for the rich, they don't need a specific budget because they make way more money than they need, and even after all their expenses, they will still have plenty to spare and that all either goes into savings or they invest it in something, in any way, they still do okay.

Hardest part of budgeting is the human action and desires. While you may feel like you budget very well, then one day, you see something, you know you shouldn't buy it, and you know it is not calculated in your budget, but you still buy it because we are humans and we make mistakes and we have impulses and urges and desires. That is not something we can calculate easily and that will cause a lot of trouble for us.

If we do this then we are not going to end up with anything better, we are going to just ruin our finances but it also happens. This is why I always budget "unexpected" amount into my calculation, I say it is not going to be calculated and known before hand, but I can definitely put some aside for it and that would make it a lot better for me.

People should stick to their budget not because they have less or more money, but because they want their money to go into useful means. With that, careful planning should be prepared prior to money spending.

Meanwhile, to make a real budget, one must focus on what really needs budgeting. Prioritize needs over wants, that’s the key not just for survival, but financial security as well. Otherwise, if you both consider those needs and wants, without proper money budgeting, you might end up getting bankrupt and ruin your financial plans and goals.

It seems like a mistake to budget for an expense you don't plan for. It's emotionally liberating and you already know subconsciously that you can still make that unplanned expense.
I can’t say that I stick to my budget perfectly and always stay within the limits that I set out in advance, unfortunately, I constantly exceed my budget by an amount equal to approximately 20% of the total amount of expenses.
But this is connected solely with the fact that I spend money not only on myself and because of this it is very difficult for me to control my expenses.

Budgeting is important specially if you are just that having a single source of income on which it will be that relevant or important that you do really set or allocate funds basing up into your needs and of course it will be needing up to include into those budget on having that emergency funds and same goes with extra. Why? There are those times or moments that unexpected expenses do happen and once you do allocate some funds when it comes to extra or miscellaneous then you wont be able to make those other budget amounts to be mainly be affected, and with this then you wont be putting up yourself into such problem when you do find yourself having the budget. You will definitely be having no worries if you do have this kind of management into your funds. It might be that looks basic but pretty sure that most of people do neglect this one out.

The good thing about budgeting and including those funds on which you can also allocate something if ever you do have some future plans on having some business or investment and thats if you do have that kind of plans and making up some actions on accumulating some saved money for you to be able to make it happen in the future. There are those plans that might that come into fruition just because they do lack budget or simply they havent been able to get prepared for this one. So it will be that on case to case basis when it comes into this aspect because each person does have that different actions taken.

There is no successful person or company that doesn't budget. Budget is to a person what risk management is to traders. I developed the budgeting habit from my house and it has been helping me to stay financially upright. There are mini budgets I make from my main budget. I don't always get it correctly but I would have lost money to some vanities if I didn't budget it.

Yes, a budget and knowing all your earnings and expenses is very important! Some people keep a budget on paper, manually writing down all the values ​​on paper. Some, like me, write everything down in an application, which can then display all the expense items in Excel, and it's very beautiful and convenient. And some people write everything down directly in Excel, but I think that applications are more convenient. In any case, all this has only one conclusion - such a calculating guy, although he should force himself to develop a habit of constantly writing everything down after each purchase, will be free from doubts that money disappears somewhere on its own.

Youre on point, budgeting helps individuals to achieve things in life, budgeting for me is a strategic planning, it involves individuals or institutions making estimate on to expense their funds according, there's no company or person that progress without budget that's why once a company reach the stage where they won't be able to accommodate a cartain number of workers, they decide to cut down cost through retrenchment of their workers to enable them function optimally.
I love the definition you gave about budgeting and I think you're very right on that, in the aspect of want and need as you mentioned, I think as rational humans, thing we want are very versed and thats why we should first and foremost tackle the needful first before going further, thses words are very logical, we can go on and on but I think am satisfied with my comment so far.

In prioritizing needs, I have come to understand that ones that you can't live without come at first — so, food and water are on top, then shelter and clothing; these are basically what one needs for sustence and everything else is want...and in terms of wants, those that improve one's quality of life should be fulfilled first than other wants.

Budgeting is one of the most important thing we should do and control over the period of time if we must have a proper financial planning. Budgets is something every family, firm institution be it the government regularly does for them to carry out projects, as they wouldn't embark in every project without costing before funds allocation to the project to be carried out. Most people do not have target or budget to what they want to use their money for, they spend money in an unnecessary things with the undermining if that is important to them or not. Cutting costs is one of the most important to maintain a long term financial goal.

I really appreciate your effort in bringing up a topic like this as it will be very helpful for beginners in making a basic plan for investment or something. In economics, budgeting is a basic step in doing something related to finance, if described more broadly, it can be interpreted as initial capital. Your initiative to raise this material can be used as a repeat or reminder for those who want to go further in anything. Without budgeting, everything planned will be in vain.

Budgeting is not exclusive to beginners alone, when it comes to finance, there is no beginner all should pay attention to the test. Budgeting is an important part of every individual with expenses to sort out, sometimes there is no need for explanations, as our brains automatically teach us to do it correctly.  There are various ways that people have made financial mistakes from when they had enough to losing everything due to wrong budgeting, everything in our budget should be in order of importance, one most followed rules to keep a budget and get the right result.

The basic budget must also be larger if someone wants to target a much greater profit even though it is only a few percent. Because a capital of one hundred million with a capital of one billion will have a different amount of profit even though both are only at five percent when taking profit. So the basic budget must also be really good so that the rotation itself can be much easier to do and besides that everyone who is just starting a business must also seek basic knowledge in terms of how to manage their capital and how to use it for more important things so that the business capital can be channeled on the right track.

Without clear budgeting, this will cause an imbalance between income and expenses, which will ultimately lead to bankruptcy. and this is what makes budget planning very important. and this does not only apply in the business world or in a government agency, but also in our daily lives. Because without a clear budget, while for income we only rely on the salary we receive every month, maybe the wages we get will never be able to meet our needs for the next month.

And I agree that we must be able to distinguish which needs and which are just wants. Because don't let us prioritize wants over needs. In addition, we must also be able to appreciate every plan and decision we have made, because sometimes when we already get money, we forget about the plans that have been made, which in the end the money we get is used up for things that are not very important and forget the needs that should take precedence.

Budgeting is one of the topics that has been discussed many times in this forum, which is one of the vital methods to follow in order to achieve a very good outcome, and it will make you track your income and also your experience, which will pave the way for you to your financial freedom.

Your are talking about wants and needs, which I personally discovered about  it some years back.  (https://bitcointalk.org/index.php?topic=5469385.msg62953830#msg62953830) But still, one of the things that people don’t know the differences is their need and want, which if you don’t know about that you will end up having challenges in your budget, because it will be very hard for you to achieve success without knowing what you really want and what you need, as budget is not meant for knowing how you spend your money, but paving your way to succeed. Because is only by budgeting that you can record your needs and save the remaining money left from your income for other expenses, and the same money can still be use for investment.

Even government and organization reasons for budget in because of future growth not just to know or track their expenses.

Budgeting is one of the keys to achieving goals. In a smaller scope such as a family, it will bring a lot of happiness. If the source of income only depends on a monthly salary, which is already measured, then budgeting really must be considered very well. Setting a scale of priorities, by separating needs and wants is a must, although it must be admitted that in today era it is quite difficult to do. There are many incentives that sometimes make us spend money, especially from social media. With the price of basic necessities continuing to rise, sometimes a monthly salary is not necessarily enough to cover all needs.

At this junction you have to understand that budgeting is required from the individual and enables them achieve a particular goal that's is impossible., then I use to think budget is not good not until I fell into that category. Just as they say failing to plan is planning to fail which is the main reason for budgeting regardless it's important to make budget and decisions on things pertaining growth. Budgeting is a game changer by all means which is why you get results by doing so.

Without budgeting, you're mostly not going to track your expenses and the habits that you've been doing with your money. It's a good step for someone who wants to be financially free. They need to watch out the money that comes out and how much that comes in. It's not about on how much people earn because they can still spend recklessly without having a proper budget. But if they know how to budget their money, the bad habits on spending will be stopped and they will realize how much money can be saved if it's stopped.

You never know quite a bit of the new generation dont understand how much importance savings and budgeting for savings has now.

Capitalism led to a bubble that prices of things a huge and we need to earn big to get them, but we dont essentially need them. That realization needs to come early.

That does not mean that we live like a caveman, but even from our daily lives a lot things can be recycled, reused which adds to your savings. Be on the constant lookout for the numbers but at times it will become hard.

There's so many things budgeting does I've heard people say it's restriction for them, there's no such thing as restriction but for clarity and safety of financial goals everyone should be mindful of their spendings and stick to a different and healthy budget.

When we talk of budget I think is most important thing which we need to do in our lives, but in this regard what I Understand by budget is actually planning of something we have in mind to achieve if we lay our hands on money we work for and we are expecting. Budget is for everybody and is what we live on in our daily activities. Between rich men and poor people there are a lot of differences when it comes to budget due to my own experience I think we have yearly budget, monthly budget and daily budget. Yearly budget belong to the government, monthly budget belongs to the rich men while daily budget belong to poor people. Poor people face a lot of challenges when it comes to daily budget  because they have to wake up in the morning and go out to get what they will eat. Any budget without contentment goes a lot of struggles which means it will involve a lot of debt and it make things go crazy.

Rich people, the government and poor people have the same type of budget; the only difference here is the amount of money each of them will budget. Rich people are going to budget a big amount of money for their yearly, monthly and daily experiences, while poor people will do that based on what they have at the moment.

So, to me, there is a difference in budgets, but each of them budgets based on what they have and how they earn their money, so both rich and poor people and the government all budget for daily, monthly and yearly spending, but the difference is how much they both budget.

For financial control, budgeting is essential because it try to make sure that resources correspond with priorities by curbing impulsive spending, encouraging savings and avoiding debts. Distinguishing wants from needs, budgeting focuses decisions in necessity and promotes disciplined allocation of resources.  

Accountability and direction of fund to impactful projects can be promoted by budgets for businesses and governments. Adaptable budgets gives room to changing goals and reduces financial stress.  For sure, budgeting  projects living intentionally (personal, business or government), turning income into purposeful action, not just survival.

Without budgeting, we will difficult to control the money because we will just spend it without think about the needs that we have. That will give us a problem because when we want to buy or fill the needs, we don't have the money. But if we can budget with right, we can fill our needs and know how much money we still have. We will not confuse with the needs especially for emergency situation because we already prepare for those thing.

Budgets requires discipline so we must follow our rule in budgeting so we will be able to fill all needs. It is why we must learn how to manage the money and budgeting will be the important thing for us.

All this is true, but as a person who actually keeps a budget and records all expenses in the application, I want to say that this method does not help to optimize income and expenses much. It does not add money to your pocket, but only gives an understanding of where the money is spent and how much money was earned in which area. Yes, of course, any smart person will be careful with spending after knowing where and how the money goes. And it is necessary to keep a budget, but if you have a family or a child, it will be very difficult to optimize spending, because family members will constantly have their own unpredictable needs.

The answer still lies on how we should be mentally discipline not to over spend. It's good that we're writing everything down so that we can settle our priorities which is like the loans on credit cards and others and then the basics, electricity bills, rent and food.

I don't know if that can reduce stress though, what you do write is that you know where the money is going and in the end, if you still have some, then you can invest. But most likely, some of us really struggles in life budgeting because it's very hard.

It might not be working up that way but we do know that budgeting does signifies that you are wary about on where your funds is going, on which this means that if you are wary then it do means that you are that trying out to be safe when it comes to overspending or when it comes to getting overdropped on which it might look up so simple but it is something which is that crucial when it comes to management of finances on which this might look up that not important but it really is. Most people doesnt mind much as long they do earn money then having that budget will be that not much of their concern, they would be just that starting on doing so at the moment or time that they dont have much money or they do have lost up some source of income on which they should have done that earlier or since from the beginning. When you are mindful when it comes to budgeting then its always be that in priority when it comes to food and shelter and other bills on which your family do really needs up. The rest of those amounts will be put up on life savings or emergency funds on which this is the moment that you would be making use of these funds whether for investment or making up some business. So it will be that up to you on how you do made out such decision on which its impossible that you cant be able to determine on whats good and whats bad.

 Proper budgeting is to finance what is needed, not just by allocating funds to a need that is not too important, a businessman in carrying out his project should prioritize the most important basic needs to be financed, by carrying out systematic budgeting, this will create a good budget. we must carry out budget control very well and neatly in carrying out a project that is based on budgeting.

No problem with that because someone will feel his method work best for him. The thing is we can manage our income into the right needs including gambling so we will not feel difficult when we lose the money in gambling. Because we can still fill other needs with the right money that we prepare before. If we have a family or a child, we can explain to them how we can manage the money and what for the money that we can do with our income. They will listen to us and saving the money into the right place and creating allocation money for every place. It is just about knowing where we should budget our money and not about winning the games.

That's why budgeting is pointless.

When you earn too low, there's no way you need to budget your spending because your salary not even enough to cover your needs.

When you already earn enough or much and you have dependents, budgeting is also pointless because your wife and your child will ask unnecessary thing e.g. she ask to go to vacation, then she ask to buy her cute thing, etc etc.

Our brain are already enough, let's say we earn $2K, we can calculate in our head to not exceed $2K.

How about if anyone doesn't understand budgeting and they go all in on investments they will learn the hard ways and maybe start using budget strategy later? We all want people to not make mistakes where as mistakes need to be made for us to take a better steps.

Some things are even unavoidable in this life for some set of people, they are made to make mistakes before their potential is unleashed, you trying so hard to make them to avoid such mistakes won't even help.

Financial mistakes are different from getting hacked due to stupidity, financial goals are to be done using budget strategy because you can't tell which investment will survive in the long run and this is different from you exposing your seed to your wallet online.

If a person wants to lead a good life, especially if they are thinking about being financially secure, then the importance of the budget is immense. The budget indicates to the person to set his limits. If a budget is made, a person can easily reconcile his income and expenses. According to his budget, he can solve everything in an orderly manner. In all types of financial matters, be it at the individual level or at the national level, the budget plays a big role in all cases. In the financial field, control or protection from debt or mental peace, the budget plays a big role in every case. The importance of the budget is immense at any level, whether it is government, private or national.

That's true what help people to regulate the way and manner that they spend their money is through budgeting because one thing about budgeting helps people to do is to help them to a portion money to the most important and pressing needs at hand , budgeting is very important in the financial stability of an individual because it will make one to reduce spending money excessively.


One thing that will help people to spend money wisely is through budgeting and financial education is what will encourage people to embed the culture of budgeting

Yes, setting a budget is important because then a person will set limits for himself, beyond which he will not spend. And this is right, because the world of shopping is full of momentary desires to buy some nonsense that will quickly become unnecessary. And we all really like to spend money on this, despite the fact that this money is often earned with great difficulty. And if a person knows that he does not have free money to buy this nonsense, then he will not spend money on something that, in fact, will not be useful in the long term.

Even if your income is low and not even enough to cover your needs, budgeting isn't necessarily pointless. No matter what your income is, budgeting is important because it not only helps you control your cash flow, avoid wasteful spending, and avoid unnecessary debt...It will create good financial habits or discipline for you, and that will benefit you a lot as your income increases.

Think about it, instead of spending a lot of time learning about financial management when your income increases, you will save a lot of time and money if you have those skills before your income increases.

Also, if your income is so low that it's not enough to cover your expenses, budgeting will help you realize how serious the shortfall is. From there, you will be motivated to find a way out of poverty instead of getting stuck in that vicious cycle.

Budgeting and low income are not the same thing, low income is when the money you earn is not enough to take care of your needs while budgeting is how to allocate money to those needs. So no matter how big or small your income is you need to make a budget for it so that unnecessary or distractive expenses will not divert the money. Budgeting don't need to be complex, for very low income earners even if they don't write their basic needs down they can memorize them, the important thing is that they know how much they earn and how much goes into what expenses. Without any form of budgeting whether in writing or memorizing it you can spend all your income within a very short time and it will be very difficult to survive till another income or profit comes along.

Basically, all businessmen must have a brilliant idea in managing their capital and in making marketing that has more potential to be able to achieve profit so that things like budgeting must be better understood by every business owner themselves. Because without a good idea, all the capital and budget that he has ever had will not rotate properly in a clearer direction so that the businessman must not only be strong in terms of capital, but also must be strong in terms of rotating capital and also making his business grow even more.

Basically, financial success is not about how much money you can earn, but how well and effectively you manage it. Many people earn a lot of money every month, but still experience financial difficulties because they cannot manage it well and cannot manage their expenses. Saving or investing and managing money is more important than just earning a high income. This is an important point, not only for each individual, but also at the national level, good budgeting will produce something good too.

If in business we not only innovate, but also develop a start-up business, then we also need to pay attention to the budget. So that your business runs smoothly according to your initial dreams, then you need to consider this. So, budgeting is a very important thing in running every business, both in households and even countries.

Of course it's a financial mistake not to budget and money allocation shouldn't go to investment alone, other aspects of life like housing, cars, debt repayment, entertainment, savings etc all make up for the purpose of budgeting.

Strategy is very important in managing a budget and it applies to all sectors without exception because if the opposite happens it may be difficult to grow and develop in running something. Technicalities can be arranged based on the interests of expenses, production costs, promotions or other usage needs such as machine maintenance costs or worker salaries. In this business it is considered important because we need a clear opening to encourage the business to be more developed.

Managing a business is not an easy matter if someone does not have a strategy and this includes all processes to achieve success in running a business. Human desires are never satisfied, but we can make adjustments to important things in order to maintain sanity in managing finances.

If you want to budget and your expenditures are beyond your budget, your plans will not go the way you plan, this is the same for Business and governments. If you are running business and you spend more than what you are using to run your business, in short term you will be spending the money you have budgeted for your business or even go bankrupted and this is similar to government that spend flamboyantly, spending or looting, the economy will shamble.

If you are going to budget and you want it to sustainable, you have to deal with cutting cost of things around you. As a government, once a budget has been passed and everyone is been hold accountable for how money is spent, I'm very confident that the money budget will even remain but when we allow people to loot money and take away government property, the budget money doesn't even reach half of what is plan in the beginning and hence corruption at its peak.

We do say that you do have that low income but it doesnt mean that you cant be able to make up some budgeting. Hence, this is the best time that you should be making out the budget. Come to think that even those rich people had that become successful just because they are that simply strict when it comes to budget and that what makes them successful because they arent that able to achieve it out if they werent that strict when it comes to budgeting. There are just that those times or moments that you do become that being derailed on what you are spending because of some external influences on which it will be that resulting into those unwise spends into something on which arent that useful or something that will benefit you out but instead it is just that added up on the expenses. Everything will be basing up on someones mentality because if you arent that fixating yourself on having that good money management and budget then there's no way for you to have such progress.

Save while you can or when you are able to do so because there's no way that we can predict on what would future comes in. When you are that having some potential problems in the future on which involves that finances then these savings will be saving up your ass and be able to survive.

Budgeting is the name of financial management. Bitcoin investment Financial management or budgeting is very important in every moment of life, real life, business life or life management. The most important thing in budgeting is to be disciplined, if you cannot be disciplined in your spending then budgeting is very difficult for you. For me, setting a budget is very easy, feel free to make necessary expenses and save or invest the remaining money at the end of the month. I never complicate financial management, rather it is very simple

"unexpected costs" is literally a line at most companies. I once worked as an intern at Nike. It was an office job, and I just transcribed all the complaints, which was a low paying bad job when I was 18 years old, but it paid for my summer so I was happy, I spent more that summer than any other summer, worked for 1 month on June, and during July and August I was a "rich" person among my friends lol. And there, I learned, accounting had a line where it was unexpected costs, like whatever, machine broke down, new hires, firing, whatever that cost them money that they did not calculated at the start of the year when making a budget for the year.

And as long as unexpected didn't go over 10%, they didn't even cared, only cared when it moved above 10% and it reached that level only once in 12 years the guy I worked with worked for them. And that was a fire in one of smaller factories, which insurance paid anyways.

We want people to include investing in Bitcoin for their budgeting. But sadly, not everyone can afford to do that for some reasons like:

1. They don't like Bitcoin.
2. They don't understand it.
3. They have only enough for their needs.

The purpose of budgeting is to make spending easier and allocated to the important ones. Those reckless spenders, they don't do budgeting and that's why they spend to unusual and unimportant things.

A budget is all about putting your wants in first place as your first priority and putting your wants out of it so that you will be able to achieve a lot of things in the future because with a budget you will be able to achieve a lot of investment, and that will go a long way to help you, as you will be able to track your expenses and take note of unnecessary spending that won’t give a better advantage in the future, as with a budget you will be able to get set for emergencies, which always come unexpectedly. But with a budget, all this will be solved, and financial freedom will be assured. Because without unnecessary spending, then investment is secured, and if investment is assured, then financial freedom is certain.

Having a budget which I refer more to as having a scale of preference is important for everyone. Without such budget in place, you’ll spend aimlessly and can’t account for the many riches you may have accumulated over the time. Some things are not important for you as a person which you can easily discard because putting your mind into the most unimportant thing and wanting to satisfy all your wants will only make you poor which you won’t feel know until the source is no more there or has reduced drastically that you can’t live such a life you’ve been living before that time. If you have a plan to have a sustainable means of living, focus more on investing because that is what will give you more of financial freedom than what you expect and if it is a means of securing your long time investment without spending them.

All that you mentioned are important things in the lives of most people even though some of them are not purchased repeatedly but are purchased once in a larger budget such as in the example of housing and cars. As for entertainment, maybe some people still make a budget once a year or twice a year so that the focus on investment and daily needs for life will not be really disturbed by these things.

Actually to make a budget is very good, do not allow people to deceive you by making a wrong plans, they are people who doesn't calm down and think how the future may be, secondly, I want people to know that the highest advice is the one you give yourself, if we do give ourselves advice I think that we will put our money into function, what makes some people to be poor today is base on lack of planing, because if you plan well for the money you earn you will genuinely have a good budget that will uplift you, but the thing is that many people doesn't bother or care to put the money they received weekly or monthly into practice, what I mean by a practice is investment, at least have a budget in everything they're doing for future reasons

This topic is also enough in the economy board as economic issues are discussed here. What op mentioned is certainly true and I will say one thing here that everyone needs to learn money management first so that he will learn to spend the right amount in every place and will never misuse or misappropriate money. Therefore, to do something good financially, first of all, it is necessary to have good knowledge about money management. When someone has good knowledge about money management, then the issue of budgeting will automatically be seen in him.

One can't be talking about budgeting without talking about financial management and discipline which are two words that are linked together as the both complete each other anyone who spends money carelessly will find it difficult to budget his finances because spending extravagantly will only lead to destroying the plans and budget made by anyone.



Financial education is key and should be learnt by everyone who is to make progress in life as it concerns any thing to do with money so the importance of budgeting in the life of an individual cannot be overemphasized any day

Most business owners should prioritize budgeting cause it minimizes loses as a result of money mismanagement and encourage proficient spendings.Budgetting is a vital criteria in  the financial sector that everyone should embrace inorder to take their business to a better height. There's so much to budgeting that's why it's advisable to plan and make hay while the sun shines.

Yes, budgeting only works if you can manage your finances if you are careless and have no control at all, then it should not be ok at all. If you end up with a lot more profit if you could just manage it well, that is how you budget.

Think about it, lets say you earn X amount, you need to make sure that this is your budget, you say I make 100 bucks, and need to spend 90 and save 10. That's called budget, but then you need to manage to live on that 90, and that would be the one which makes sense and would be called financial management. If you budget, and then follow it, then you are good at both of them and should be getting a greater return. If we can live with something like this, that should be the way to move forward.

budgeting is very important. to achieve this we need a scale of preference to place things in orderly manner base on first and second priority or even third. when setting budgeting we need to have to put the important things first before  any other thing.  for instant a person who works and get paid may have a plan to achieve something at the end of the day, this could be investing into bitcoin every week or month or could be investing into a project. for this to be achieved you must try as much as possible to first of make provision for feeding or house hold expensed then he can mark out some amount for investment no matter how small it might be, budgeting is more of  dedication, discipline, focus and determination, and not just by words.

Normally have a good budget planning for yourself is always necessary. Because this have been a very big problem for most of us, due to not having a sating budget for their spending. Though, some expenses we are experiencing today is lack of budgeting, because once you set up a good budget it will going to help you manage your money without spending much. Because most people normally got carried away whenever they have a enough money.

Real thing. They are quick to spend it when the money's in hand, and that's why even without a budget at all. They will spend it no matter what happens because there is no budget at all. But if it's budgeted, it won't be gone too quickly. I am guilty of being carried away when cash is in my hand. So, I better keep it in crypto and won't spend them because I feel that it's going up than using it for something else. Well, the others knew this idea that it's better for them to keep their money on an asset because they have bad spending habits.

Not everyone can do this, not because it's impossible, but it is very difficult. If you own a business for example, like if you have a store, what goes in and what goes out, could be a bit different. Not because big ones are not doable, or even any of them, you can take notes of ALL of the spending and income, but it is usually difficult.

Because we are talking about daily dozens of sales and spending, so keeping track of that is very difficult, and if you are lazy, then you are going to not really do that. Remember, not all of them at some report you can just download pdf, some of them are what you have to write down yourself, and smaller stuff, like a meal at work, has to be all noted down and most people doing something else at that time instead of note it down.

That's because we don't force it because of several things including laziness which is always one of the factors that cannot be avoided.
But if we try to be more selective especially when we want to improve in everything including our finances, of course this important thing should not be missed because it will be considered something trivial but will actually have a significant impact in the end.

Discipline in budgeting and good financial management will clearly be a very positive thing because at least from that we can have several aspects including evaluation if there are indeed many shortcomings that we do in managing our finances.
Indeed, this will feel difficult, especially when we are not used to doing it, but something like this can still be done so that we have something good even though it might start from ourselves who are forced to do it to get used to it.

Not only business people or governments because even a gambler needs to make a plan in allocating the money they spend on gambling. Everything related to money does need to make a plan for balanced expenses and income so that people individually, groups or countries can be more accurate in making targeted expenses. Talking about personal life may be much more complex because someone must have a plan in the budgeting process so that there is a balance between the income and expenditure processes.

To train in discipline, a strategy is needed and someone must know the expenses that are productive as a support for life and vice versa with unexpected expenses. In this way we can spend something in a disciplined way and not make the use of money in the wrong way.

In fact, adjustments in the beginning of course the budget is the most important thing to think about in order to be able to manage what is planned well and carefully, by managing the budget to achieve the planned goals, the most important thing is to be in accordance with considerations and pay attention to needs that include according to the available funds, I am sure everyone must have a plan in allocating existing funds and a sufficient budget in order to create the desired progress.

Being lazy or not taking any actions on which it would be detrimental on your success then its a common stuff for most of people and thats why they do remain up on where they are now on which they can actually be able to make out those changes if they were just that mindful into their current condition. If you've seen yourself having that kind of shortage on the current earnings that you do have then you will definitely having some issues even if you would be having that kind of budgeting. We do know that we are living in a world on which economic conditions becomes worst overtime and if you arent that wise when it comes to spending or budgeting then it will be causing up that kind of huge problem about finances later on on which you will be able to realize on how important it is on the first place. People do usually made out some adjustments when they are experiencing unfortunate conditions on which they have might that able to avoid it earlier if they are just that thinking up well.

In speaking about importance then it should be something in default. Come to think that even with those wealthy or rich people do made out some budgeting about their expenses then how much more for us low earners or those who do make money less? Of course you would be needing up to be mindful when it comes into this aspect if you dont like to experience up some problems. As much as possible when the time comes that you do have that sufficient money saved out of those proper budget then this is the moment that you do consider out on trying to make some step up like on having that business or investment on which it could be giving out that additional income source on which it will be that a huge help on this case.

True, this is detrimental but many people think that this is something trivial and not taken into account too much but in the end this actually has a considerable impact on our sustainability and progress in the future.
Because regardless of how much or little income we have, when there is no good control where recording or management is not good, the situation will remain the same where we will always feel lacking because the income we have is actually drained by expenses that are sometimes not even too important.

I felt that way a few years ago and now I'm trying not to be ignorant of things like this because even though this is a basic step or a simple step, the impact is indeed very good for our future because at least with records like this we become more aware and more able to be more observant where the expenses we have to do and which ones we have to reduce.

Budgeting mostly not going to work to a normal and minimum wage earner in my country. With all of the rising cost of everything, it seems that we're just working for a few kilos of meat and some rice to eat. And having known with the bills and rent if it's not owned, they won't cover mostly. What people needs for those that are suffering with budgeting is to increase more the incomes that they have. Even with good cash flow but if the salary or income isn't enough to cover the cost of everything, it won't help at all and there is nothing to budget when most of the money are going to primary needs.

Budgeting or financial planning is very important, because in addition to helping us meet our needs, it can also make us wiser in spending money. However, there is something more important than that, namely how we can be grateful for all the decisions we have made including the financial planning that we have budgeted. Therefore, not a few people at the end of the month, when waiting a few more days to get their monthly salary from their workplace, usually consciously they make plans related to their finances, so that the salary they get can be used as well as possible, can meet their needs in the following month, increase savings and investments and also set aside some more for pocket money and to buy what they want. That's their thinking when before getting their salary, but in reality when the person has received his salary, all those plans disappear who knows where, and in the end the salary he gets is not really able to meet his needs for the next month.

Good points, in addition to your points, budgeting makes us have a clearer picture of our expenses. Simply writing out expected excited and planning for it can save an individual or firm from oversight and be able to attend to all needs timely and efficiently.

It also helps us structure our activities in a more efficient manner and reduces waste, finally helps us maintain a good cashflow management practice and have better savings.

Believe me, if you're a breadwinner, budgeting is useless.

If you already tried to cut unnecessary cost and try to live with simple lifestyle, but once your parent ask to buy expensive kitchen set, your little sister is sick and you have to bring her to visit doctor. How do you even able to control your expense when you're become the first person who being responsible with any unexpected needs?

You might be single that's why you can say like that, you have to wait until you get married and have a child.

Budgeting is not useless dude.
For all the reasons you are calling budgeting useless, you also should have a separate budget, like you can make a budget for health care every month, it will be for you only, not for your whole family. I am not saying that you should budget for health care every month because someone in your family will get sick in every month. But  having a separate budget for this will actually be useful in that situations, and if such a bad situation does not come, then you will keep that money in savings and it will be useful in the future.

And speaking of kitchen sets, I would say that buying what you need should not be considered an unnecessary cost. In this case, if you can get by with an average quality kitchen set instead of an expensive one, then why do you need it?

And we also have to remember that our monthly expenses will not always be within the budget we have made, but sometimes it will be more, and sometimes it may be lower.

But if you keep budgeting, then after the expenses, an amount like regular saving becomes possible for us. Even if it is small, if you keep doing it regularly, a large amount will be created in the future. I think you know that "Little drops of water, Little grains of sand, Make the mighty ocean And the pleasant land.'

In the context of a family, if you are the breadwinner or the backbone of the family, then what you do is focus on how you can still earn income, for budgeting matters, just leave it to your wife, and if you are not married, then just leave it to your mother, because they are usually wiser in managing the budget. and having savings is quite important, this is very important to answer when facing an urgent situation like the one you mentioned where one of your family members falls ill, which even though it can drain all your savings, at least you do not have debts that can further complicate your financial condition.

And if you are still single, and have no dependents, then try to live more independently, manage the income you get every month well, start saving and also investing, because this can help you in the future. You don't need to wait until you are married and have children to feel how difficult it is to manage a budget. Instead, you should start your financial foundation right now so that later when you are married and have a child, you will not experience that difficulty.

You are absolutely right, having surplus money is always plus point, we can achieve it by budgeting, it is one of the quality every person should have who wants to become wealthy,  Budgeting can help us to know every single details of our spending, these can help us to take better decisions about what should be cut and what should be keep, This can also help us save more money in a long run, More savings mean we can have more money in investment.

Today we have a lot of great tools to invest in, Make us money maker at home that could also help us to live better life have financial freedom. That makes it very important to have budgeting plan in place, there is no doubt budgeting is very important, we all should practice it.

The practice of budgeting is accounting. The three parts of accounting practice (decision making, budget reporting and legal compliance) are the actions that will lead to where the business will be established. It is the interpretation of these accounting practices that is important as it is important for businesses to expect a profit at the end of the year. The budget governance of businesses is somewhat different from that of the government because the government is not allowed to do business in running the government.

Yes, in fact, when spending money is not understood in any way. It seems that our own desires are not ending, while spending time with the family, they become empty, yet something or another is left to buy. ‌ Money management is a very dangerous thing, it is good for those who can use it properly. ‌ But most people lose in terms of money management, they cannot manage their money properly, so it is seen that the shortage is not ending.

Currently, DCA maintains that a small amount of income from a certain amount is spent on investing in Bitcoin. When there is money, it is spent in various ways, but after spending it, I regret not doing this thing, but I can't do anything later. For this, I have set aside a small amount for investment, This is how my personal investments and expenses are going.

I do undertand the point about on the word "useless" that he used on this one on which if you are indeed a breadwinner then it would be useless or something that cant be possible on trying out to be done into. Why? Even if you do have in mind on trying out to save money but on the moment that you are that earning just that sufficient on day to day living and with those needs that your loved ones needed then you wont be able to hit up such target or goal and thats the reality. For those people who do able to find themselves be able to save up despite of having that tough condition then its good but actually its never been simple on having this kind of situation because you would be needing up to focus into your priorities on which we know that its something that you do need up to fulfill as a breadwinner but if you do have that chance to have some extra despite of those expenses then its a good thing but if you cant be able to do so because of shortage then there's nothing we can do about it. The only way that you can be able to get out is on how you would be considering out on having multiple jobs or income sources on which we know that this step is not that easy at all but it doesnt mean that it would be impossible. It is just that there are those times or moments that you do just simply stick into your day job and would be focusing on what you are currently doing and as long you are earning money then this what matter the most. Each person would be having its different conditions too and thats why it isnt just that right for us to make up some conclusions or judgment that they arent that doing something for them to make themselves better. It is really just that we do leave out on having no choice and thats why we are just that sticking or staying up on this way.

In addition to being good at budgeting, you also have to have a more advanced mindset and be able to see that salary or income is like water flowing from a high place to a lower place and the water will fill the container in the high place first until it is full, then go down. Then fill the container below it and so on until it runs out.

So when you have a new income, you have to put it in the primary needs post, such as shopping money, household needs. The rest should not be used immediately for shopping, but allocate it for this emergency fund, it is needed for when there is a sudden need and the rest allocate at least 15% of your salary for investment. If there is still a remainder, just shop for what you like and spend it, why spend it? Because basic needs have been met, emergency funds have been met, and the future has been prepared. So the budget is very important, not only in business but also in the household, even if you are still single.

Budgeting without the proper mindset is one thing that has made people who has saved their money to use it for the wrong purposes because one thing is to budget and another thing is to have the right mindset to use the intended money that is budgeted for the purpose at which it was budgeted for having a strong mindset is one thing that will be of benefit


When it comes to budgeting one thing that will be helpful is having a disciplined life because when once a man is not disciplined that man or woman can't use his money productively

Most times we are on heels on spending more than our expectations and the main purpose of the money isn't established, so applying the law of budgeting can be very essential be it a business owner or an individual that earns an income. Sometimes setting up a plan on how to spend the income will pay you a lot than having it being spent on things theta ain't important at that moment, this is why budgeting it's so important to set the pace and manage your spending rate.

The first thing to come your mind as someone who is earning money is budget, if you don’t have budget in your plan that means you are not serious with your life, no one will think without budgeting some money and he thinks he can survive when he find his or herself in a critical situation, budget should be something very important for us because it helps us, spending anyhow is not something bad but make sure you budget for yourself because no one knows when he or she will find their self in a bad situation.

As far as the government are also budgeting for the betterment of country who are we to not thinking about budget and have a better future? Budgeting also deserves to have a good work or business that will make sure you are satisfied have the plan of budgeting because without satisfying with your works to budget will be very difficult.

Budgeting is very important, but if you don't have a steady income you can't budget because anytime you are on calculating to solve problem. As a business man you need to be Budgeting so that your business can be moving smoothly, without keeping some money anytime you have emergency you will end up on debt and that is very wrong because some people are rich but they don't have the mindset on keeping some money on Budgeting they spend anyhow and that is very wrong, some rich says if they spend they will get another one. And without budgeting you don't know what will probably comes next. Anyone doing business or having a steady job need to be saving even is small funds for purpose.

Budgets help our economy to continue in a good state because a budget is a plan and a good plan keeps you on track. Budgeting is very important in order to avoid unwanted situations in the economy. Budgeting means how much money you allocate for something and not spending more than this money. If you do not budget, you may spend an amount of money that you did not determine before.

A budget indicates a limit on people's economic spending and this limit can prevent overspending. One of the advantages of making a budget is that it provides control over spending.

The importance of budgeting can not be overemphasize and I can remember that this topic has been treated many times but those topics are not active again and it is still important that we remind ourselves the important of budget making which helps us regulate how we spend our money on things that is really of importance to us and not to spend on unnecessary things while their are still more important things. If someone does not make budget, they could end up spending money on less important needs and after they have utilized all the money, that's when they realize that they have other important needs they didn't attend to.

Emergencies are unpredictable and can frustrate us a lot, including regards the financial aspect. It's annoying to have saved money for a long time, and then when you least expected, you had to spend it with a health issue involving you or someone close to you.

But what can we do about it? Emergencies are always the priority. More money can be accumulated later. The most important here is to not give up on your financial goals.

On the other hand, why do you have to purchase expensive kitchen set for your parent? That is the kind of situation you could just say "no", right? They should understand you are trying to achieve something else, and by telling you to spend money on expensive stuff, they are making things harder for you to accomplish.

That's why there is a kind of savings for emergencies and that's what we call emergency fund.

It's a norm of saying how gratitude we are as children to them in our culture. It doesn't have to be expensive though but it's a way of saying thank you and appreciate them for all of their hard work. That is a way of giving back to our parents and I think in every culture and country, we have this way of saying thanks. But it doesn't have to be expensive, you don't spend your emergency funds for that, it should be for yourself.

You say great, but it applies to everyone, but many do not do it, like me. I do not have a lot of decisions in doing everything but in some cases it goes wrong. I try to spend the money I earn properly and at the end of the day I do not have any money left. Save money for the purpose of doing something as soon as you get money. Still, the money saved for other activities is spent. How can I save money from it? In a word, I cannot make the right budget for money despite my right mentality. However, I will soon be able to create the market properly because I had several loans it was repaid.

Yes, budgeting is truly one of the cornerstones of financial success. A disciplined budget is the most effective way to control your money, both for individuals and for companies and governments. As you mentioned, if you have regular income, it is essential to have a plan for how you will spend it.

Otherwise, the money will slip away and you will either not be able to make ends meet, or the company will go bankrupt, or you will go bankrupt. Budgeting is a must. If you have regular income, you should choose your budget carefully. Flexibility is also important when budgeting. Life is dynamic, sometimes unexpected expenses occur. Therefore, there should always be a small amount of flexibility in your budget.

OP you are actually correct, budgeting is very important in our life, if you are someone that don't  like making budget then be rest assured that you will always get into financial issues because you have no financial plan on how to spend your money, some set of people that where rich or well to do before and are now poor and that is because they were not making budget.
Budgeting will help you to always remember the important bills that you should pay as soon as you receive your salary, if you don't make budget you may use your salary for things that are not important and when you remember those important bills you will have no option but to borrow or take loan to cover that bill up and then resulting you paying interest and this are the things that slowly make you poor, if you want to go into investment and you don't have budget you can never achieve that, it is when you have a financial plan or budge that you can bring your dream of investment into reality.

I totally understand what you are saying and I understand the angle you are talking from. As breadwinner or as someone who have people looking up to you, it can be challenging to budget money because out of no where, things can come up and these things requires immediate attention. And at that point one will be force to go out of budget in order to get it sorted out. But there still things we can do to remedy this situation, when we have observed that it is a regular occurrences. As a breadwinner, one need set up an emergency funds account, and this emergency funds account should be included in our budgeting.

Certain percentage of our income should be going into this account, so that when emergencies expenses comes up, this is the account you will turn to and get whatever the problem might be solved. Making budgets without budgeting for emergencies expenditures is not wise.

Are you married? I am married and the breadwinner of my family, in my experience budgeting is not as useless as you think. Budgeting is even more important for breadwinners because they need to ensure stability for their families.

I understand what you are saying because I have experienced those things too but it is not as severe and not as difficult to deal with as you describe because those things do not happen often. Your sister can't be sick every month, your parents can't go shopping every month...right? So don't think that budgeting is pointless just because some unexpected expenses arise and disrupt your spending plan for that month.

This is the kind of take that does people a favor, whether they like it or not. The reason half the population is at war with their bank statements every month is because of the phrase, "just trust your gut". We exist in a system that is designed to keep you forgetting you had a plan at all, with the notifications and the dopamine cycles and the perceived endlessness of the small spends

You get the pattern. It is not that people go flush to flat broke because they are evil or stupid, it is because they are playing a game they never learned the rules to. Even the myth of the "budget-averse creative genius" collapses quickly when you consider real outcome. Real freedom? Budgeting buys that. The supposed spontaneity of living without a budget is just a shortcut to new kinds of chains: debt, panic, endless scrambling

Budgeting is not only a present tool but also a window to the future. You can not talk investment or opportunity without being able to look beyond next week. No future, no plan. At least not a future you pick for yourself. And weirdly, ruthlessly honest about money is one of the compassionate things you can do to yourself and to the people who rely on you. There is no doubt that more dreams are ruined by money issues than by the lack of talent. Believing that you are an exception causes a different type of problem. Nobody is

In other words, we must have a scale of priorities. And of course this is quite an important thing to note, because sometimes when we already have money, we often forget things that should be the main priority. Therefore, the budget that we make is not only recorded but always remembered at all times, because sometimes some people make notes for budgeting, but the notes have been made and are just notes that they don't touch anymore.

That is what is making many people end up on getting loans because they don't budget when they receive salary funds they spend it the way they like, and when problems will come he won't tell you so is better we should be budgeting for purposes. so that anything that comes we can handle it immediately without stressing to look for another way to resolve the problem. Any Business that you see they are still active, is because they budget they should have gone down because any business as risk, and if you can't try to save some funds when your business go down you won't get backup to try again. I have some that doesn't save money or trying to budget because they believe that anytime money will come and they will fine it easy to resolve any issues that occurs. Even the people that are doing trading most usually budget everyday and without that they won't succeed because if they lose they won't get another funds to stake again that is why they plan and budget funds they will be trading with in a days or weeks, savings money reduce stress and make things go smoothly for you.

What's funniest is that the author really correctly noted that human desires are insatiable, and in fact, very little is enough for us to be happy, and this has been proven by psychologists! All we need is a roof over our heads, food, and communication. And that's it! This covers absolutely all our needs, and after someone gets a house, food, and a person of the opposite sex living nearby, then nothing else is needed for happiness.
Rolexes, iPhones, Lamborghinis, etc. are the desires that were instilled in us, this is something that we want by our nature.

This is a very good point. I like reasonable thoughts like this. I would also like to add that Budgeting can actually be very important for the breadwinner of the family. It helps you to know we're your money is going avoiding over spending and helps  stay out of bept. When you have a budget as a family man, you can plan for the future that is you kids education and your retirement.it helps build your wealth and prepares your family for a long term success. another important thing I would like to add out of experience is that it strengthens relationship with your spouse, it prevents arguments about money when everyone is on the same page.

I think by budgeting you can actually see every expense and determine the priority scale in managing finances. I am married and have children. And I also have parents and siblings who even though I do not cover 100% of their needs but there are still situations where they need your help. I can always help my parents and siblings because I budget. And for the record I have an average salary in my country which is not too high but also not too low. And honestly I can meet my family's needs and invest even though it is only $ 50 or $ 100 per month. And in budgeting I often hold myself back from spending money on something I don't really need such as paid subscriptions, fancy food, new clothes, vacations or buying food outside. Because I think about preparing a budget to give to my parents and siblings. And with budgeting I can monitor monthly expenses and always evaluate them every month.

A mature mindset will bring up thoughts about budgeting or money management that is indeed a must, sometimes I myself still can't manage my finances when I have received a salary from my job, only enough to meet needs and pay all bills then set aside some to save and the rest I tend to spend it without hesitation, but lately I feel lucky because it's no longer like that, I only buy what I want and not excessively. Don't wait until you're married to manage money well and responsibly, when we are not married but already working then this is the right time for us to learn to be able to manage money well. Many young people today only think about momentary pleasure, I actually understand because I have also experienced it, but there's nothing wrong with us having to learn to manage money when we are young.

Budgeting is key, it lets us to apply more discretion when spending in order to not waste resources so much. When you budget and plan, you are able to separate your needs from wants and focus squarely on your immediate needs. when you fail to budget and go on using available funds, mismanagement is very possible. I believe so much in the adage that says When you fail to plan, you plan to fail.

It's easy to just make a plan, it can be finished in just one night or even less. And if we have failed in making a plan, well, let alone doing it.

something that must be understood and understood by everyone is that we will not always be healthy and will not always have enough energy to continue working and doing other activities. Therefore, we must be prepared for everything that happens and everything that might happen in the future. And of course we all want to enjoy our old age well and prosperously without having to think about financial problems. If we don't plan all of that from now on, don't budget so that some of the money we have is stored in savings and investments, then be prepared for a more difficult old age and only become a burden for others.

Budgeting is part of our everyday life and for one to be successful there's always a reason for budget , there's a saying that failing to plan is planning to fail ,so to business owners and individually budget keeps you on track .

There's a common saying that "failing to plan is planning to fail", just in the aspect of budgeting it is same . Budgeting is making a plan on how to manage our finances. As a business person If you dont have plans on how to spend money u end up spending it recklessly or ur business might fold . In budgeting, creating the plan is very easy but implementing what you plan is what is very hard. It takes  discipline and contentment to carry out effective budgeting . Effective budgeting  helps us to know our expenses, how to save and invest our finances well and most importantly help us avoid debts.

Going into a business when you don't have a budget does not make sense, because there's every possibility that your business will collapse along the line. So therefore knowing how to make budget is supposed to be the Basic thing that everyone need to understand before looking into anything that will involve putting our money to avoid making unnecessary mistake, because sometimes when or business seemed not to work the way we expected sometimes we will  be putting the blame on something else without knowing that we are the cause.

Budgeting is an important part of making an investment. Budgeting helps us to plan ahead and to know those things that would be required for a project or investment to be established. Whether we have our own business or we are working for someone, we ought to put every funds that enters our hands on budget so we don't over spend anyhow without achieving what we ought to make.
Every businses ought to have a budget or else, things would could north and money could be overspent without awareness. Making plans is just like doing budget to know what the future have in stake for us..

In everyday life, budgeting is quite important to pay attention to, especially when talking about a business, which of course this is a very crucial thing, because without a clear budget, we will never know for sure whether the business we run is really profitable or even vice versa.

And speaking of the future, no one knows for sure what will happen in the future, but of course this all depends on what we do now. I believe that the process never betrays the results. In addition, if we are accustomed to budgeting in our daily lives so as not to become someone who is consumptive, then it will not be difficult enough to do budgeting when we enter the business world.

Budgeting is very important to individuals and businesses, because it's help in planning on how to manage your resources and also for unnecessary use of your resources. I think for an individual or a business or firm to grow, it's important they learn to make budget, because it helps plan your spending and it helps minimize irrelevant use of your resources. Budgeting also help you plan and prepare for the future,  because it helps you solve unseen circumstances or issues in the future.

Budgeting doesn’t help in planning, it is the plan else, how do you put it.

I don’t know how people go through life without having any budget on how to run their day and business. It’s a necessarily step to take on your way to building wealth and sustaining that wealth through a good number of years. Budget ensures you stay true to your ideas and investment plans, even brings you closer to archiving them as far as finances goes.

For those who go through life without budget, you’re really just hanging by a thread and it’s so windy out here.

Budgeting means that if a person has proper financial management, he can improve his investment or business. As you said, budgeting everything, it seems like an accounting to me. For example, if you have set aside $50 per month for spending, if you spend it, you will not have any money left. But if you want, you can manage your investment or business properly through proper financial management. For example, you can spend the amount of money where it is needed, instead of spending it wastefully, etc. But you have to take care that you do not waste your money anywhere and through proper financial management, you can manage your business or investment properly.

It is always very difficult to understand the line of saving on yourself, after which health problems may arise in the future. My friend saves a lot on her food, preferring cheap products to expensive ones.
And this continues day after day, her weight is falling, but her general appearance has become unhealthy. With such savings in the future, she will have to give doctors a lot of money to restore her health, so such savings do not make sense.

It's very bad for people who think and act like that. For me, saving simply means cutting out unnecessary expenses, but we still think about the future, including our health, not just investing or saving.
Making a financial plan for the future doesn't mean we have to hold back on essential needs. That's what we need to understand first, and we also need to think long-term about the things we do that don't end up harming ourselves, as you mentioned.

This is clearly a flawed mindset. Saving and investing without maintaining good health will be futile in the future. Ideally, saving and investing should be balanced with investing in health as well. While it's true that buying unnecessary items is unnecessary, being stingy with yourself, which can lead to illness, is a flawed mindset.

It's important to understand and change your mindset before saving and investing. Healthy living is a long-term investment that cannot be replaced by anything. Having a lot of money if you're not healthy is futile, as you'll need more money for medical care later in life. So, you are what you eat, as the food you consume affects our physical health and overall well-being in the future.

Often times we always prioritize our wants more than our needs this is why we allocate money and end up spending money on things that ain't important and later on we reckon on ourselves for doing so, why it's required to know ones needs and wants and know what we are prioritizing and setting budget for. Setting a plan on how to spend every money that comes in matters inorder to take advantage of spending on things that are essentials.

Yes, you are right, it is very important for every person to set a budget. Because if a person does not set a budget and moves irregularly or spends more money than his source of income, then it will be very stressful for him to be successful. Because if he spends more money than his income, then he will have to take a loan from someone and after a few days that person will be in debt.

If a person sets a budget. For example, his monthly expenses are $ 50, his food expenses are $ 20, etc. If he keeps setting a budget in all aspects, then after a while he may be able to save a lot of money or if he is willing to invest, he can invest. So always set a budget and try to stay in a disciplined manner.

Basic financial education and literacy are just one of those skill that every investor must have. To be able to have a successful investment for long-term retirement, understanding the fundamentals on how investments work or even simple economics is key in order to be successful in this area.

Budgeting should start once we have the curiosity of investments. Once you have started your journey towards acquiring your first investment, it is very important that you budget all of your finances because this will let you set aside the money that you will allocate in this aspect.


There has to be a balance between our wants vs our needs. While needs are essentially the things that are obligatory/mandatory, wants are still considered beneficial in order to at least have a goal to pursue. Having to understand the balance between the two (2) makes an investor successful in the process.

Budget making is good for the country if we have bad economic status because we want best companies in the countries which have best employees and that is possible by best budget making Skill which is duty of CEO of company because he will manage all departments and will try to make budget for thr things which will add value in the life of customer.  People are doing progress because handled their spendings which should he less than the income and person should make a chart which will explain all criteria of money.People have money to invest and they want to save money which is best for tge family but many families try to buy mobile phone which is not good for the family status .

If you are a person who cant be able to determine about on whats good and whats bad then you would be that likely having that some problems later on which we do know that it would be that something significant or important that budgeting will be needing up because even if you do have that tons of money or having that funding but sooner or later those funds would be that totally wasted just because you do prioritize wants over needs on which this is what most people that been trying out to do so. There are just that those times that you do become impulsive or having not minding up that much about responsibilities but rather you are that trying out to achieve something that you've been longing for so long and instead on buying up the priorities, you do rather choose up the other side and make yourself that contented. Its not bad to buy up your wants for sometime but this would be only that after you had been able to pay up the bills and allocate funds into those something important like savings/emergency funds and other correlated things on which after that, then this is the time that you would consider on buying up something for you on which it isnt that a bad choice either. There are just that those times that you do lose up that control on which this one would be causing up that total devastation when it comes to finances. Regrets do always come at the end on where they should have that be able to stop it out when you are just that being sensible and mindful into the actions that you are taking into. Sometimes we dont think off about into those negative impacts not until the time that we've been experiencing out the unfortunate condition on which we've been that currently that experiencing on. Importance of budgeting is that you would be able to save up yourself when there's that crisis and since you do have that back up money or funds then you wouldnt be finding yourself having some hardship on surviving out on which of course it will be that situational because not all will be having that kind of actions to be made out along the way. Tere are just that those times that you've been that becoming irresponsible when it comes into your spending just that because you've been that able to encounter those factors that do affect out on the way you've been thinking.

It is an act of financial recklessness that can leads an individuals to spend more then they earns, and potentially causing debt or financial difficulties. I strongly believe that our needs and wants are much greater than our income, but the best way to prevent overspending is through budgeting, just as everyone said.

Utilising what you have brings a perfect comfort and financial financial instability. The future carries a lot of uncertainty, unpredictable and unforeseen circumstances, so emergency can arise anytime and it is important to take care of any issues that arise at the moment, and there is a possibility of using money to settle whatever it is.

Some individuals don't care about the future, the only thing they care about is the present, and we are living in the 21th century where everything changes my a means of time. Budgeting helps in accurate spending/utilisation over excessive spending. And it also promotes the chance for saving, and what you are saving now can be beneficial to you in the next decade.

Personally, I think your points highlight some important aspects of responsible financial management for both economic stability and personal financial well-being. Some people should really consider managing their spending, keeping expenses below incomes, and creating a chart to help them track their financial criteria. I also fully understand that the importance of budgeting in a country can occasionally be somewhat tricky, but I still think that having good budget making skills is sometimes crucial for companies and individuals to manage their efficiently.

Budgeting is knowing your priorities, it's knowing the things you need and not necessarily the things you want. Anyone that wants to be financially stable should be able to know about budgeting, budgeting is about being smart with your funds and these should be learnt at a young age. Budgeting helps you increase your savings and it also helps you achieve your goals faster, every standing company or organization has a good management plan that prioritize budgeting so as an individual or a person that wants to be financially stable in future, you should know about budgeting and that's basic financial education.

You can say someone is being financially reckless when spending way more than he earns and like you noted, leading to financial difficulties and certainly debts.
Budgeting in simple terms means planning whatever income you're got on how best to spend on what's important and needed at the moment. Our wants being so insatiable could be said to be greater than our income, our needs however, can be comfortably taken care of also having some left over for savings.

Budgeting is important in building a business, because if we cannot manage it properly, for sure the business we build will close quickly, that's for sure. But if we manage the budget properly and know how to manage it, for sure we will be able to run the business for a long time because we will be able to properly rotate the profit that comes into our business.

Now if we don't have a business and have a regular job, this is a difficult situation because usually the expenses are higher than the regular salary, so it is very difficult to manage
how to budget the money we have worked for.

Budgeting is not only important in business and investing but also very important in our lives. No matter where our income comes from, how much...budgeting should always be done. Without a budget, we risk losing control of our finances, overspending, or developing bad financial habits. In the long run, that will lead to a dead end in life.




While budgeting can be a bit difficult if your income is low and doesn't cover your living expenses, that doesn't mean you don't need to budget. At the very least, budgeting will help you prioritize essential expenses first, spot and cut wasteful spending, and create good financial habits...

It can be said that budgeting is considered mandatory regardless of your income.

Budgeting does not restrict us, but it gives us freedom. It gives us control when we know where our money is going; we do not have to survive on the borderline of paycheck and spending the income unexpectedly. It is not for the sake of spending less money; it's about spending the money where it's needed. Keeping the budget in mind also builds our confidence with time. Even saving small amounts compounds over time and creates huge impacts when there is a sudden need for money in situations like medical emergencies, for investments, or for other long-term goals. Having such plans makes us stable. so, Budgeting is a very wise and practical plan.

what op figures out is our problems in normal day life, because I know very well that without budget you can't achieve anything, do you know that so many of us who is in forum earning every week, they're people who will earn what some of us earn in this forum they will become a billionaire in normal life living, but When we earn here we think is not going to make us to be rich, it's wrong planning that makes most of us not to utilise this opportunity, so I believe that we need to apply what op says in a day life, budgeting and planning works hands to hand, and if we fails to plan we'll it left for us.

It's not easy. If it was so easy, we wouldn't have this many poor people around the world. I see a lot of people who blame the homeless for being homeless, like most famously Michael Jordan once said "if he can say "do you have change" then he can say "would you like fries with that sir" too", meaning there are people who blame the poor for being poor.

But there are two things, first one is the fact that yes while there might be some people who earn enough but spend more but there are also people who do not earn enough as well, secondly we have people with issues, could be healthy or psychological, and unless we help them out, then they can't go get a job, literally for medical reasons. So realize, some people can't just spend less, and be fine, some are already barely surviving.

Budgeting is good, when you budget well, you would utilize funds accurately. The mistake most people make is allowing funds to come before budgeting. You should have your budget ready before welcoming funds so you can spend wisely or even if funds are available, before you start spending any dime from it, budget well so you can utilize it more efficiently. When you pen down your expenses, you eliminate possibilities of oversight and attend to every need while relegating some wants on your scale of preference to future income.

When people don't have value for money, they spend it just the way they want, not even having an understanding of what they are spending money on and whether it is important. When one has a good value for money, they will always channel their money toward things that are meaningful and valuable.

People who understand the value of money will always spend on things that will generate more money for them or on things they really need, and they do not spend money without budgeting to avoid spending more money that is not planned for.

We cannot live with waiting until the money comes in so we can start thinking about it to manage our money well. I also realize that there are a lot of individuals who are not sure where they spend their money though in the first place they did not come up with a plan at all. When you initiate a budget even before you have gotten funds, you will not only be managing your money but also save yourself going to waste the money in the end. It is not boring to record expenses but it is the most effective method of finding out habits that you may not even realize that you have. It is possible to have peace since we can rest in the fact that our money is spent in a way that reflects on exactly what we need not necessarily what we want. Budget is not oppressive, and instead, it is a shield that will help you not to go down the wrong path.

When a person realizes what money is worth, he will not spend it baselessly. I believe that most of the people lose their way not because they do not have sufficient amounts of money, but because they are not accustomed to putting boundaries and targets on their purchases. It is even possible to start in a small way: to mark, to make lists and then to make decisions on what is important. You can never have enough money no matter how much of a time you spend it unplannedly. Every one of us requires control and conscious use of money is the control. The satisfaction gained when a person uses his or her money in order to achieve something significant is overwhelming as far as gratification is concerned.

Budget is a plan. A plan is made to spend your hard-earned money properly. A budget is very important for a well-ordered and controlled life. Creating a budget and working according to it reduces unnecessary expenses. You have a clear idea of where your money is spent throughout the month.

Again, you can get an accurate idea of how much money you have at the end of the year. However, in the current situation, it is difficult to create a budget and live according to that budget.

Still, living without a budget is like sailing a boat without a sailor.

That is more to the concept of development so that it can be more appropriate and the planned budget to be planned can be far more leverage based on the scale of needs. But often we see when the implementation does not go well because of several factors that occur and generally apply in government. To measure the scale of needs requires planning so that these needs can be absorbed in aspects that are really needed and make the budget can be far more targeted.

In everyday life humans also need to make policy steps for the problem of budgeting because it contains priority scale. Especially if it relates to the government or in managing a business because if you do not have good financial management, it can be said that both will not get the desired output.

I think this is what separates successful people from those living in poverty. I'm not belittling the poor. However, those who don't understand the value of money tend to only think of it as a means of exchange they use for shopping. The more money they earn, the more they spend. This is different from people with good financial management. They view money as a seed that, if planted properly, will yield returns. Such people tend to limit their spending and allocate their money to investment instruments or businesses. I have a friend who could be described as very stingy and lives a very simple life. He doesn't like fancy restaurants or branded goods. However, he owns many assets in stocks, crypto, and gold. Interestingly, when I asked him why he lives so simply, he said he initially wanted to live a luxurious life, but found that frugality is much more comfortable and enjoyable, and he doesn't want to change his habits.

Those who live without financial management, they have no future assurance, it is important to spend money in a planned manner for a disciplined life, although in the current inflationary market, not everything goes as planned, but a little ups and downs are acceptable, but if you spend all your income uncontrollably, then your future will not be financially assured, and even in an unexpected situation you will have to face a lot of problems. So everything has to be planned, create a specific budget, save or invest for the future according to your income capacity and create a separate fund for the situation in advance, lead a comfortable life.

There is a difference between successful people and by that I think you mean wealthy people, the middle peaole and poor people. Successful people are not close to poor people and they are not even bound by what you are saying. Been born in the right side of history gives you a edge, this is what man poor people don't have. If you are born in a poor family, the chance of you getting out of there is very slim and if you are not having a formal education may make it worse.

It's people that are in between middle class and wealthy people you should be comparing. Someone that has basic things and leave a comfortable life can take risk to becomes a wealthy person if they have the right plan and has a successful plan, a poor man don't have any money to invest in Crypto or Bitcoin but a middle class person can make that sacrifice with the little they have to buy the things you say and becomes a successful person, a poor person that barely feed don't have resources to buy the things you said.

They would be only mindful at the time that they've been able to experience the worst case scenario, but before that they wouldnt be minding up that much when it comes to financial management. We do know that on the time that you've been that still into a condition on which you dont have any financial problems then you wouldnt be thinking about budgeting specially that you do have that a good or decent job that could support your daily needs and with also having that some side income from your investment or businesses, then you would be having that kind of confidence that you can make it through forever and having no problem that you would be able to encounter along the way on which this is very wrong. There's no such thing about guarantee that we do have in life on which problems will always exist no matter what. It might not happen now but it might happen later on and thats why self preparedness would be needed up.

Budgeting is crucial because you cant just that live yourself like a king or queen when it comes to spending, because at the time or moment that you do become that spending up that much
and havent been able to prepare for emergency funds or similar, then you would be seeing yourself being fucked up on the situation.

And that is why I always feel sorry for both the poor and the middle class. The middle class is in the same poverty trap, and any attempt to invest or start a business can be fatal. Now are very difficult times of crisis and the middle class has a very high chance of poverty if the head of the family does not constantly look for part-time work.
And at the same time, you cannot limit yourself to one part-time job, you need several. This is scary and bad. It should not be like this. Those who work a lot should have the opportunity, at least for full treatment of themselves and their relatives.
But medicine is expensive.

Budgets is the foundation that cements the welfare of a business. It's the core engineering structure that guides business persons or funds holder to utilize/spend them effectively and responsibly.
It's required to be disciplined before one can actually respond to their actions of budgets because, some people may have theoretical future budgets analysing how they're going to use their funds but when the funds gets to them, they deviates from the plans and jump into other sectors without proper plans.
They also fail to make earlier financial budgets for it causing them to face challenges where there's no reserve of savings for short term needs. After using their entire savings for the investment and the profits isn't coming so quick, they begin panic resulting to fail of investment goals.
This act is practicable to some newbie investors in the crypto markets who sells their bitcoins at lost price due to need of funds to solve their immediate needs.

Budget is important in our life for living a well-ordered and prosperous life. By planning and arranging a proper budget, we will be able to fulfill every need in our life as per the requirement. When I plan a proper budget based on the amount of money I earn every month, I will not spend more than I need. And I will be able to continue my savings well. If the budget is correct, it protects me from additional debt. A proper budget helps in achieving financial freedom and it saves me from worries. Then a budget planner can easily achieve his goal

Some people only create a plan when their income stream is clear. If someone has a good plan, but the income stream is inconsistent in one or two areas, the plan will be useless. Planning becomes useful when someone is clear about where their income comes from and where they will spend their living expenses. Although most people certainly won't spend more than they can afford each month, the remaining money can be used as capital, either for investment or other businesses.

One of the key points to consider when budgeting is avoiding spending more than you need. Budgeting requires a planned approach, and overspending disrupts this plan. Avoiding more than you need also allows you to save. Saving is one of the benefits of good budgeting.

Budgeting is easier when income and expenses are clear. When expenses are uncertain, budgeting becomes difficult, and saving can be challenging. Another advantage of planning is that it provides savings for possible additional expenses.

Planning for finances, or more precisely for our expenses, ultimately depends on our income, so your claim may be incorrect because it would be ridiculous for someone to try to plan their expenses or what they should spend but still be confused about how much to spend because they have no income.

The spending plans we need to make must be based on the income we have, and it’s not possible for someone to try to budget for something that still seems fictional because they’re confused about their income.
It’s not that such things are forbidden, but I think we should be a bit more rational about this because if we only budget for expenses without any income or money, it’s the same as daydreaming and creating a fictional scheme.

There is no way one can budget what they do not have, so if budgeting should be, then income should be certain already, even though it might not come consistent then having at least hope if getting one or receiving is very important, once you have an income or get paid once then you can budget and live your life strictly on the page of your budget. Budgeting is like the manual to how you life you life, if your going to live a extravagant or strictly on budget, infact budgeting is as having a plan it works hand in hand.

Budgeting will make you to utilise your money very well, some people doesn't like make a budget in anything they're doing and that has being the challenges they are having and that makes them to be spending unnecessarily, so therefore we need to understand that, I'm using gambling as a reference, in gambling you need to budget yourself very well before you gamble and likewise any other thing you do, without having a budget you will spend your money beyond your budget and that is why any average person have to know that they need to make plans that will help them to achieve their targets, many people is poor today they did not have a foresight from the beginning and today they are regretting seriously

People should try to make budget of  their business because it is required to be successful in life and business idea also matters a lot in life to make impression in life . People try to make budget for the grocery which is not such as important as business but they are not making any statement for that . People are making effort for the money and they are in the search of job and that is reason they are facing trouble in life. People have to make things which will give them profit in life and they have to place money on side for the future investment but most of people don't know about that .Gambling is not good for the finance of anybody because it can destroy you because you could lose your all money in a moment and that is risky thing.