Taking debt is not necessarily a bad thing if the debt is necessary or you can afford it. Budgeting shows you how much a debt load you can realistically take without being stressed or if taking the debt load is worth it.
Who Should Budget
You should be budgeting if you are:
- working on limited money.
- trying to lighten your debt load and solve your debt problem.
- working towards a financial goal
- planning to retire early
- trying to make the best use of your money