Why do you need a budget2/12/2023 ![]() Will you sustain their medication until they recover? If you lost your job and have to support your family, will you do it comfortably? These are the questions that should get you back to the drawing line and get you to rethink your financial situation.Īt the heart of personal finance is a budget, something most of us dread to hear. If you got involved in a personal injury suit and have to battle out in court for more than a year, can you afford the legal fees? Suppose a close family member was diagnosed with a serious medical condition, and your medical cover is not enough to cater to the costs. It is easy to assume that everything is going on well until a disaster hits you. In addition, about 40% of Americans have less than $300 in savings, and around 30% have a long-term financial plan. In 2020, the lack of financial literacy cost Americans a staggering $415 Billion. Very few people get the opportunity to learn about personal finances, which leaves them making bad decisions once they start earning money and have to make the most out of it. ![]() ![]() Financial literacy is often overlooked yet very important for anyone. ![]()
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