Question

Ask a friend or family member if they think people that prepare personal financial budgets are more or less likely to be in debt and why. Then ask the same or another person why they think many people do not prepare a personal financial budget. Share their answers and explain if you agree or do not agree with them .

Answer 1

Personal Financial Budget is a weapon in order to grow the money or assets of individual by investing a secured portions of money for each month or quarter or certain periods. Personal Financial budget help us to control or curb some of the enjoyments as every personal financial budget requested to save certain portion of amounts towards investment for future well being or future enjoyments or to protect from future uncertain events.

Budgets always show the debit balance or debt balance as after portion of compulsory expenses is over ,next major part is saving amount which result in very less amount available for enjoyments as earnings are insufficient

It also curb the food habits as result it is not interested by many of people to prepare a personal financial budget. Many of the people opinion is saving for the future means we need to sacrifice for the present by spending less amount on account of food,cloths, cars,Living home, entertainment, all these present curbs will make us to enjoy later..sometimes which may be results in debt at the same time on other side may be savings as sometimes saving required certain fixed amount must be invested otherwise future targets or goals can not be reached, In such Cases sometimes we borrow in order to invest to reach the future goals with certainty .

As of opinion of Human Being

Personal financial budget is a personal opinion it depends on the mind set or mentality of the human being, whether caring for future or caring for the present. Whether there is intention for long-term goals or investment or not.

I mostly agree to frame a personal financial budget with intention live happily in the future as every one wishes most of times , like A good Business, A Dream Home or Dream Car which will be reached only after certain fixed amount is Invested periodically in order to reach the required amount.

Today Everyone living with a set of objectives especially who want to grow in life are all set for looking at future, whom likely preparing or must be prepare a Personal Finance budget in order to reach their dream goals.