The basics of budgeting are to form good financial habits and develop an awareness of spending. Taking the time to make a budget can help you make smart financial decisions today that help to reach your goals in the future. Setting up a budget is simple. You just need to take the time to get started.
Budgeting is important because:
- It helps you meet your expenses and create plans to reach your financial goals.
- It helps you develop a sense of control over your money.
- It reduces your anxiety levels regarding financial and academic matters.
- It can contribute to your creditworthiness.
- It identifies where funds should be going versus where they were actually spent.
