Why a budget is important
By gd37419, Updated
Kids ask parents about what a budget is
A budgets benefits are it gives you control over your money, it keeps you focused on your money goals, makes you aware of what is going on with your money, helps you organize your saving and spending, makes you decide in advance how your money will work for you and many more.
Well honey a budget is a estimate of income and expenditures for a set period of a time. I'll show you things that have a budget around the house.
Mom what does a budget mean and what does it do?
Our family has many budgets one of them includes a budget for our pets.
We have to budget their food costs, toys, and grooming/vet care.
We also have a budget for our house
Which includes our mortgage, electricity, water.
Our family has a budget for our food. We need this budget so that we can buy food for our family and still have a ton of money for other stuff.
Our cars also need to be budgeted. They can be very expensive.
Thanks mom and dad for teaching us about what a budget is. I'm definitely going to remember this conversation when I'm older!
Your welcome and I'm glad to hear about that!
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