Why Everyone Needs a Budget

April 10, 2017
why everyone needs a budget
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This is the first post in The Ultimate Budgeting Series. You can find the entire series on this page.


According to a 2013 Gallup Poll,  only 1 in 3 Americans has a written budget. I’m praying that number has improved since the last poll because budgeting is an important tool in improving anyone’s financial situation.

Budgets have truly gotten a bad rep. If you tell someone you’re on a budget, some will look at you like you’re broke. And honestly, that’s the furthest thing from the truth!

I’ve been on a budget for some years now and I can tell you that I’m far from broke. The b-word doesn’t describe my financial situation at all and I refuse to allow it to.

Regardless of what income bracket you fall in – you need a budget! A budget is simply a plan for your money. It’s a way of telling your money where to go instead of worrying where it went at the end of the month.

A budget is by far the most important thing you can do to improve finances. And with a little help from your budget, I can assure you that you will be well on your way to carefree living.

Many of you have reached out to me about where you should start when it comes to budgeting. My first piece of advice is to work on your mindset. Then you can get to the budgeting part.

But for the purposes of this series, we’re going to solely focus on budgeting.


Why Everyone Needs a Budget?


A budget is a way to ensure you get everything you want out of life. And I’m not just talking about materialistic things. I’m speaking on the type of lifestyle you wish to experience.

If you want to hit up the mall every other weekend, you are surely within your rights to do so!  If you budget for it and can afford to go shopping every weekend without going into debt — heck, get your shop on.

Maybe you want to travel a couple of times a year or get your hair done every week.  Or, you just want to make sure the bills get paid without worrying.

Everyone’s gotta reason. The thing is, no one’s judging you. More than likely the only person doing the judging is you.

You’re afraid of what someone’s going to think of you if you use a budget. Or you’re afraid of what you’ll think of yourself if you commit to a budget.

A lot of people grow up believing budgets are for poor folks. Or for folks that have money — depending on where you fall on the spectrum of hate/love towards money.

I grew up thinking a budget was hard and only reserved for rich folks. I thought you needed a lot of money to budget. If you were living paycheck to paycheck there was nothing to budget.

Of course, I now see the error in this logic! A person who is living paycheck to paycheck is the main person who needs to be using one.

A budget is the only thing that can help them get a month ahead of their expenses. Without one, you’ll continue to do the same thing you’ve always done and see the same results.


What Can You Accomplish with a Budget?


A few benefits of a budget are:

  • A fully funded emergency fund. Never worry about job loss or emergencies again.
  • Regular car maintenance. Do you currently hate when the oil change light comes on?
  • Vacations. When’s the last time you went on one of those?
  • Money to pay your bills. You’ll have a plan so you can pay bills when they are due.
  • Retirement. You’ll be able to think about your future without added stress.
  • Guilt free fun. With a budget, you can splurge on that purse at TJ Maxx guilt free.


Tired of just making it? Ready to get your finances together?


So, are you’re tired of living paycheck to paycheck? Are you ready to sit at the table and partake in a little financial freedom?

Well, if your answer is yes let’s get you on a budget.

Over the next three days, I’m going to deliver a series of posts in a budgeting for beginners series. You can expect two posts per day. It’s going to be awesome!

You’ll learn how to track your income and expenses, create a budget from scratch, build a savings plan, and more.  You will also be able to purchase the budget series printable pack to help you create your budget, savings plan, etc.

Your budget is going to be your new best friend because you’re finally going to get your finances in order.

With better finances, you’ll be free to pursue a lifestyle you love. After all, that’s what Life and a Budget is here for — creating better finances for carefree living.


Do you currently have a budget? If not, are you ready to create one?


free budget printables


Grab all of the printables for the Budgeting for Beginners series before you start. You’ll receive a copy of the budget coversheet, budgeting printable, income tracker, expense tracker, and savings tracker. Plus get a copy of the bill checklist, password tracker, and goals worksheets. These can all be purchased for $5. Once you’ve got your worksheets, here’s the next post in the series.


Budgeting Printable Pack

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Latoya Scott
CFEI/Social Entrepreneur
Latoya Scott is a Certified Financial Education Instructor and personal finance writer with a mission to help millennials learn how to stop living paycheck to paycheck so they can become financially carefree.

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