Emma Sturgis https://mint.intuit.com 2m 409
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
If you’ve ever run out of money when you need it most, you might understand the importance of budgeting. For instance, you might worry about how you’d pay for any unexpected emergencies that may arise. Accounting for these expenses every month will help you feel safer and more secure.
Groceries
Instead of overspending on expensive restaurants whenever you feel like doing so, putting money aside for groceries can make your life easier. After all, you need food to sustain your body and mind so you’re able to think clearly, work hard and reach your goals.
Rent
The most important expense to account for is probably rent or mortgage payments. Other living budget items to include are air conditioning, heating, water and electricity. Of course, if it’s over 90 degrees outside and you can’t use the air conditioner, it can be difficult to live a normal life.
Pet Care
One concern you may have is that your pets won’t be able to get the medical care they need if and when emergencies arise. To avoid worrying too much about this, you can send a set amount of money to your savings account on a weekly or monthly basis. This way, if your dog breaks his leg, you won’t have to feel so guilty for not having enough money.
Emergency Fund
Consequently, emergencies can happen in a split second. This can mean you may not have sufficient funds to pay for them. A few emergencies you might need to pay for are medical, dental or veterinary. Further, your car could break down, and you might not have the necessary cash to have it towed.
Charity Donations
While taking care of you and your family is important, giving to charity can improve and/or save the lives of others. In addition, you’ll feel like a better person for giving to those less fortunate. Some people believe everyone should give to charity because some people aren’t capable of taking care of themselves at times. Having more empathy for the needy can make your life more meaningful and purposeful.
Other expenses to consider include household maintenance, car insurance, memberships, bank account fees, car registration, entertainment, and plenty of others. Indeed, having a budget can improve your quality of life, health and well-being. Of course, you’ll likely lose less sleep knowing you have enough money to pay for necessities and emergencies. So it can be vital to give yourself a break by sticking to a budget.
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