Title: 4 Things That Might Happen If You Don't Follow a Budget
Headings: 4 Things That Might Happen If You Don't Follow a Budget
4 Things That Might Happen If You Don't Follow a Budget
1. You'll lose track of your spending
2. You'll fall short on your savings goals
3. You'll increase your risk of landing in debt
4. You'll damage your credit
Creating your budget
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When you think about the ways you might want to spend an evening, you might imagine yourself curled up with a good book, camped out in front of the TV, or at a restaurant having dinner with friends. Chances are, a few hours of quality time with a spreadsheet and calculator aren't going to top your list. But if you don't make a little time to create a budget, and then pledge to stick to it afterward, your finances are likely to take a turn for the worse. Here are a few nasty consequences that might ensue if you neglect to budget. 1. You'll lose track of your spending
The purpose of having a budget is to see where your money is going, and where there's room to spend less. Therefore, if you don't follow a budget, you risk walking around virtually clueless about what your expenses actually cost you, and that might lead you to make some pretty poor decisions. Imagine you think you're spending $600 a month on groceries, and so you decide to sign up for a meal-planning service that costs you just $500 a month instead. That's $100 in savings right there!