7

Budgeting

4. Budgeting can help prepare for emergencies.

In life, you'll bump into some challenges. Whether it's unexpected bills or getting laid off, it will often lead to serious financial issues if you are only ever budgeting for what you know will happen. When life offers you surprise bills, you need to have some extra money to make sure you'll get through it alright. This is why having an Emergency fund is so important.