Financial Planning Essay

Budgets are beneficial in a sense that it helps in reducing unnecessary spending and pay for the essential expenses and hence avoid debt. Sticking to budget is beneficial and rewarding in the long run. As much as people have a budget, sticking to it is a real nightmare. People set unrealistic budget making it difficult to stick to it. Emergencies also makes inhibits sticking to the budget. Another strategy I will like to adopt is the online Budgeting Programs. I will keep check on my finances all the time using sites like Mint. com, Mvelopes. com and Buxfer. com. The advantage of this is that it will enable me have discipline of saving first and control variable expenses funds. Disadvantage of this is that there is a danger of using credit card.