The Benefits of Budgeting
I am so thankful that budgeting found its way into our lives a few years ago. I feel it has been so helpful in keeping us on track financially. It is simply “adulting” at it’s best. No, it’s not necessary, but at this point in my life I would not want to be without it. I find it helpful in keeping us organized, being ready for rainy days, and equipping is to save up for financial goals in the future.
A few years back, we were helpin my mother in law take care of her bills as well as our own. There was a lot to take care of - her utilities , our utilities, groceries, car payments, rent payments. I had a paper list and would try to keep track of when I paid what so that I could see if it had already been done for the month. But, when we switched to budgeting, I was not only able to see if the bill was paid on our program, I was able to make sure we had already set aside the money to pay for these things.
I have also found budgeting helpful to prepare for those negative surprises. Cars need repairs and computers need to be fixed. It is nice to have these planning brainstorm sessions with my husband to plan for the inevitable so that we can set aside some money every month instead of it hitting us all at once. For example, my husband can guess we will need another computer in 2 years, we estimate the cost of the new computer and divide it by the 24 months it will take and make a goal to save up that portion each month for the next two years. It makes it a lot less stressful to replace it when the time comes around.
Budgeting is also great to save up for the fun times. There are those big ticket items and vacations that can feel impossible but if you really want it you can save for it and it will become a reality.
We use YNAB and have been doing so for many years. I like that they have workshops with teachers and information to educate you how to budget. I would recommend it for anyone who is willing to take the time to learn how to use the system.
A few years back, we were helpin my mother in law take care of her bills as well as our own. There was a lot to take care of - her utilities , our utilities, groceries, car payments, rent payments. I had a paper list and would try to keep track of when I paid what so that I could see if it had already been done for the month. But, when we switched to budgeting, I was not only able to see if the bill was paid on our program, I was able to make sure we had already set aside the money to pay for these things.
I have also found budgeting helpful to prepare for those negative surprises. Cars need repairs and computers need to be fixed. It is nice to have these planning brainstorm sessions with my husband to plan for the inevitable so that we can set aside some money every month instead of it hitting us all at once. For example, my husband can guess we will need another computer in 2 years, we estimate the cost of the new computer and divide it by the 24 months it will take and make a goal to save up that portion each month for the next two years. It makes it a lot less stressful to replace it when the time comes around.
Budgeting is also great to save up for the fun times. There are those big ticket items and vacations that can feel impossible but if you really want it you can save for it and it will become a reality.
We use YNAB and have been doing so for many years. I like that they have workshops with teachers and information to educate you how to budget. I would recommend it for anyone who is willing to take the time to learn how to use the system.
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