Ultimately, our goal should be to reduce costs, spend smarter, save more for investing in what we value. Or to keep for an emergency fund in the event you work for the federal government and there is a government shutdown.
American Psychological Association 2017 study reported 62% of Americans are financially stressed. Anxiety and stress can lead to serious health issues and workplace absenteeism.
We are a consumption-oriented society, relying on too much borrowing. Consumer spending accounts for more than two-thirds of our gross domestic growth.
The list of reasons for preparing a simple budget outweighs the plan for not starting one. You need a place to understand what you are spending and saving to accomplish your financial goals.