Reasons Why You Should Use A Budget + FREE Printable

If you are unsure why you should use a budget read some of the ways you can save money below. Having a Monthly Budget can help you achieve your financial goals. Be sure to checkout our editable monthly budget spreadsheet that you can use to keep track of your finances.

Tracking your income and expenses each month is extremely important because it allows you to see where you spend your money. Find out why it is important to use a budget and how you can increase your savings each month.

Why You Should Use A Budget

For some people, using a budget is a no-brainer. While others do not understand why they should use a budget or even how to use a budget. Being able to use a budget can help your family understand where you are using your money and how much money you can save each month.

Whether you are trying to increase your savings to be able to afford your next vacation or trying to put away money for college, using a budget can help. Make sure you print a copy of our FREE Monthly Budget Template.

Reasons To Use A Budget:

Instant Savings

It is the easiest way to save yourself some money. If you budget everything such as gas, monthly payments, and other expenses you can see just where your money is going and how much you might be wasting. It will help you put your finances into perspective.

Tracking Expenses = Saving Money

By seeing where your money is going you can find out where you can cut back and save money. For example, if you make a budget and see that you have been spending $100 a week on food items or on entertainment, you could budget to spend only $40 a week. That’s save you $60 a week, or $240 a month. By the end of the year, you could have more than $2,000 in savings. Tracking where your money is spent each month will give you an idea of how much you can afford to save every month or paycheck. Try our 52 Week Money Challenge!

Pay Off Debt

Now, imagine that you have a car payment of $300 a month and you only have eight more months of paying on it. Every month you could take $100 of that $240 you’re saving and put it towards a car payment. That means that you will have your car paid off in six months, not eight. The same concept can be applied to credit cards or other loans, too. Once those are paid off, you can save that amount each month to buy yourself something larger or better. Knowing where your money is going and how you can spend it better will allow you to help pay down your debt. Learn how you can save money on your monthly bills.

Reach Long-Term Goals

Not only will a budget save you money now, but it will help you build funds for the future. Budgets don’t just help you spend money wisely, but they help you save money to reach your long-term financial goals. Whether it is for retirement or for your kids’ college you will want to save money each month. Having a sound budget can help you reach those goals.

Tracking your income and expenses each month is extremely important because it allows you to see where you spend your money. Find out why it is important to use a budget and how you can increase your savings each month.

 

More Ways to Save Money:

Creating a Budget

How To Save Money For Your Hobbies

4 Financial Vows Every Newlywed Should Take

Eating Organic on a Budget

Also, make sure you checkout the Frugal Fanatic Facebook page and follow us on Pinterest for DIY projects, recipes, money saving tips and more.

Why should I use a budget

This Post Has 46 Comments

  1. I just started using a printable budget and it has totally made a difference. It’s also nice to see where I spend my money 🙂 Thanks so much for the great print outs!

  2. This might sound silly, but I write down everything. I think it’s a lot like a food journal. You don’t realize how much you are spending until you see it all in front of you.

    1. I completely agree. I constantly write everything down. I have found it helps with my bills because they do fluctuate and I like to make sure that I am not being overcharged.

  3. Using a budget should be common sense but some people, {cough} me {cough} have a hard time sticking to a budget. My new year’s resolution was to be smarter with my money so hopefully I can stick to it throughout the entire year. Any ways, thanks for this blog post.

    1. It definitely does take discipline. The entire process will be trial and error for a few months, but as long as you still with it you will start to save money.

  4. We just started following a budget and are amazed at the money we are saving! It really is important to write it down and follow it.

  5. I love the idea of taking the money you save and making extra car payments. That is such a good idea. I’ve found that we are spending way too much on lunches. We are going to start packing to help with this.

  6. i lived for the longest time without a budget and would just spend my entire paycheck and live till to the next one. now i have a budget in place and actually save money and my money gets out towards better things.

  7. every sundayi make a list of things i need, things that are on sell, freebies, and letters, people i need to call. i also keep very little cash on me, and pay w/ credit card where i get lots of points, if i have more cash to spend cant track as well.

  8. Having a budget really keeps me disciplined and focused on my real needs versus my wants! I’m not perfect and fall off track sometimes but I try to jump right back on and it has helped my family very much. Thanks for the great advice!

  9. Im 46 years old and Ive never used a budget! I was never taught how to budget when I was growing up but im definitely going to use your print out and all of your tips! Maybe one day i will even have some money saved! Thank you for your awesome post!

  10. I do writte everything down,starting how i can spent for grocery shopping which i do cut in half thanks to coupons and use save money for my kids shoes….i planned week ahead what meals snack willll have that week ….put budget for bills and things like that,with one income i really dont have any other choice.

  11. I have a hard time budgeting. I feel like I need to live for today not tomorrow but I do know I need to start saving. I have a savings for my children but for myself is a different story. lol I do plan on using the steps that you have given and I have started to utilize the 52 week savings plan. This will be interesting to see if I can stick with it. I also started with the 52 and will work my way down since the holidays are at the end of the year makes it harder to squeeze extra money for savings.

    1. I can totally agree with you Trameka. My husband and I love the concept of living in the moment because you have no idea what tomorrow will bring, but it is my kids that I like to plan for.

  12. I don’t really find as much of a need for this, because I have no money to spend! But, I do think for most people, it is a great template to use, because you can see everything you are spending laid out in front of you, so you get an idea of where your spending is out of control.

  13. If you are not creating a budget and sticking it to it monthly, then you could be hurting yourself financially. A budget can help you track your spending, make smart purchases and help you save monthly. It can also be very beneficial if you need to repair your credit score or save for a major purchase.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge

Privacy Preference Center

Necessary

Advertising

Analytics

Other