The good news is that once you have a routine going, then it doesn’t take that long to have everything up-to-date. Without easy to read data, there is no way of know what is going on. Having a budget helps you stay disciplined to organize your finances, which is the first step in knowing your overall financial health. I list a few below for your consideration: There are many reasons to make a budget and keep track of all expenses aside from growing a surplus. There may not be problems even if you neglect maintenance for a long time, but consequences can be disastrous when an accident finally occurs. However, maintaining a budget is like maintaining a bridge. Plus, it’s not like neglecting to enter all the data has any immediately noticeable impact on us anyway. I know it’s tedious to keep the expenses tracking up-to-date. I know I’m saving money because my account grows every month. I however don’t budget and never keep track of my expenses. I have $100,000 saved up in bank accounts by following good frugal practices that you and others outline. When she was puzzled about budgeting, she wrote in to ask: Sandy knows she is growing her savings by having a surplus each month and putting it in high yielding online savings accounts.
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