Question

Why do we need budgeting our money?

Answer 1

Answer:

In short, budgeting is important because it helps you control your spending, track your expenses, and save more money. Additionally, budgeting can help you make better financial decisions, prepare for emergencies, get out of debt, and stay focused on your long-term financial goals.

Answer 2

• The purposes of budgeting are for resource allocation, planning, coordination, control and motivation.

• It is also an important tool for decision making, monitoring business performance.