10 Benefits of budgeting for students
“A budget is telling your money where to go instead of wondering where it went”
– Dave Ramsey
Below are some of the benefits of budgeting
- Budgeting makes you more financial literate
- It keeps you in control of your money
- Budgeting helps you keep an eye on future financial plans
- It keeps you from spending money you don't have
- It shows you where you are likely to have issues with money
- It makes it easier to stay aware of your savings
- Repaying back debts becomes easier as you can keep track of your finances and cut unnecessary costs
- It aids your overall financial planning
- Budgeting boosts credit score as fixed fees will be monitored and paid on time
- And more importantly, budgeting helps you make provision for financial emergencies.