A personal financial budget in many homes is not thought of as important. If you've ever put together anything, such as a Christmas toy for a child you'll notice they alway come with a plan. A financial budget is a plan that has been devised for your finances. Budgeting is as important as any other plan.

I am a real estate developer, and I would never think of building a house without a plan. A plan is so crucial, townships will not allow a builder to build without one. Why should our financial lives be any different? With a budget and proper budgeting we should be able to realize most, if not all of our financial goals.

Have we made a good decision in not having a budget or plan for our money?

A budget is crucial in us reaching any financial goals we have made for ourselves. It is like anything else, planning aids us in reaching our goals. If your are single, you budget could be made in isolation, but if you are married, your financial planning should be made jointly. Set long and short term goals, set a financial plan and budget, then start attaining them. A financial planner can aid you in devising a plan that is realistic and attainable.

A budget should never be a financial starvation diet. That won't work for the long haul. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.

Even a small amount saved will help you reach your long and short term financial goals. You can find many budget forms on the internet. Just use any search engine you choose and type in free budget forms.

Budgeting can seem overwhelming, but as you have read above it really doesn't have to be. If you don't have time or the inclination to do it out yourself, hire that financial planner to help you with it. What is important is that you get it done, and stick to it so that you meet both your short and long term goals.