Personal Budget Essay

513 Words3 Pages
The topic that I will be researching is the cause and effect of maintaining a personal budget. I struggle greatly in this department so it is my hope that I learn something as well as other people how it could affect you in many ways if you don’t have and maintain a personal budget. Having a personal budget benefits you in so many ways. There are many pros in having and maintain a personal budget. Although doing this can be somewhat tricky for some people, I believe that it has nothing but great benefits. Having and maintain a personal budget allows you to see and know where your money is going. Once you figure this out, you will then be able to figure out how much money goes to every item. In doing this, it will allow you to create a budget plan. When one has a strict budget plan in place, it becomes less stressful on any individual. One will see that they may even have some extra spending money left over after the other important stuff has been taken care of. Although creating a budget was easy, maintain it is the hard part. A lot of people, like me, are very bad with money. I like to call myself an impulse buyer. I think that I am one of those people that need to have a strict budget and learn how to stick to it. Once you have the budget made up, all you have to do is have enough self-control with your money and spending habits to stick to it. Sticking to your personal budget can sometimes become stressful. It takes a lot of will power to stick to your budget. You just have to keep telling yourself that you have to pay your bills and take care of your family before anything else. This is what honestly helped me. I have two small children and bills to pay. If I didn’t have and stick to a personal budget, my kids wouldn’t get the diapers and clothes and food that they need and my kids and I would be sitting in a dark cold house with no water.
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