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A Budget Aides in Making Smarter Financial Decisions

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Brooke Tripp, Junior, Sheldon High School

        What is a budget and why do people need to use one?  A budget is an estimate of income and expenditures for a set period of time usually based on how often you get paid. A budget helps you take good care of your money. While planning a budget, you will need to list all of your income for that set period of time. You will also need to list all your fixed expense such as mortgage payment or rent, utilities, car payment, house, car and/or health insurance. You will also need to list your variable expenses such as food, gasoline, entertainment, and the amount you plan to put into saving fund.

        The main concept of a budget is money and how you will spend it wisely. Therefore, the 3-D money signs represent the money comes that a person has to use in their budget. Whether that money is in the form of coins, bills, paychecks, gifts, interest, using a budget will aide me in spending it wisely.

        I have learned It is good to make a monthly budget and by doing so, it will help you get out of debt, pay your expenses on time and build wealth. When using a budget you can you plan and spend your money more wisely which will greatly reduce or illuminate financial problems. It will make your life and finances more relaxed and less stressful because you will be in control of your money instead of your expenses controlling you. Making a budget does not mean you will spend less, but it means you will make smarter financial decisions which over time will help your money grow.