For most of us, creating a budget is something we dread and tend to avoid. True, there are more exciting tasks in life, but theres nothing like the benefit of a detailed budget. Right away, you'll start to understand how much money you have, how much you're spending and how much you're putting away for savings and investment.
A detailed budget can also help you spend wisely, focus only on necessary items and reduce any wasteful spending. This can be particularly beneficial for finding the money you need to pay down any lingering credit cards or other debts.
A common suggestion is to put 10% of your income aside for long-term goals. It's best to treat saving like any other monthly bill, and pay yourself first every month. By creating a budget and sticking to it, you may find that you have more money than you thought, and all the exciting opportunities that come with that.