![]() ![]() Maybe you can only put aside $50 a month for that goal. Let’s say one of your goals is to save $1,000 in an emergency fund, but money is tight. Without a budget, it’s easier to spend money frivolously because you aren’t as aware of the repercussions. If you don’t have a budget, you may find that you don’t have enough money to pay all your bills, which is never a good position to be in. If money is tight, a budget can help you prioritize your obligations. There are several reasons why you need a budget if you’re broke. ![]() ![]() Yet, this is when you most need to budget. You may be tempted to join the 59% of Americans who don’t budget ( CNN). When you don’t have enough money coming in to save for anything fun like a night out on the town with your spouse or a yearly vacation, perhaps even not enough money to meet your monthly obligations, budgeting can feel like torture. The rest of our marriage, budgeting has been a struggle. My husband and I have been in that position twice during our nineteen-year marriage, and budgeting was fun for me because I could see how we were meeting our goals. You have enough money to pay all of your bills, and you have extra money to put aside for things like a vacation, holiday gifts, etc. When you have plenty of money coming in, budgeting can be easy.
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