Why Budgeting is So Important

2 min read
Why Budgeting is So Important

Budgets are tough.  But living beyond your means is even tougher.  Have you ever heard the saying that knowledge is power?  Well in this circumstance it is

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so true.  Living in denial of debt can only get you so far, debt will catch up with you, and it’s never pretty.  The secret to being financially stable is spending less than you earn.  That’s it!  So a budget is important to make sure that you have more money coming in than going out!

Budgeting is also about protecting yourself, having a back up plan is something goes wrong.  This can come in the form of savings, insurance or a combination of both.  They say that three months pay is a good amount to have in your bank account separate from your savings.  Well that is great – but not always possible.  But any money you can save for that rainy day is truly a good thing.

When you know where your money is going, you’re empowered to know where you stand financially.  If you’re not earning more than you’re spending, and you can’t find a way out – see a financial consultant – sooner rather than later – before that debt gets out of hand!

About Author

Jody Allen

Jody is the founder and essence of Stay at Home Mum. An insatiable appetite for reading from a very young age had Jody harbouring dreams of being a pu...Read Moreblished author since primary school. That deep-seeded need to write found its way to the public eye in 2011 with the launch of SAHM. Fast forward 4 years and a few thousand articles Jody has fulfilled her dream of being published in print. With the 2014 launch of Once a Month Cooking and 2015's Live Well on Less, thanks to Penguin Random House, Jody shows no signs of slowing down. The master of true native content, Jody lives and experiences first hand every word of advertorial she pens. Mum to two magnificent boys and wife to her beloved Brendan; Jody's voice is a sure fire winner when you need to talk to Mums. Read Less

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