A budget is a spending plan, and it is your single best tool for knowing where your money is going and with how much you have to work. Just the mention of the word budget can send even the most structured and organized person running for the hills. A budget, however, has several tremendous benefits.
Among them are:
#1: A budget makes it easy to save and know if you have extra money. By tracking your expenses and income, and controlling how much you spend on variable expenses, you will quite likely find that you have more money than you thought you had. What are you going to do with that extra money? If you are using the savings plan I laid out in “It’s Your Money! You Keep It!”, you know that you can put that money in an envelope to save for Fun. That means you can go to that five star restaurant you’ve been anxious to try. You can also go on that vacation, if you have saved
properly.
#2: A budget saves you time. How long does it take you to collect information at the end of the year for taxes? Even if you don’t do your taxes yourself, gathering all of those financial documents can take days and can be extremely stressful.
When you have a budget, all of your expenses and income, including your taxes, are documented. This is particularly the case if you use a spreadsheet program or accounting software. If you have used either of the budgeting worksheets from my website, you will have a month by month record of your spending, categorized, and just waiting to present to your accountant, tax person, or to put into turbo Tax.

To have the copy of budgeting worksheet you can just go to [http://www.onlinemoneyology.com/community.html#Benefits] Of Creating A Budget