First of all, let’s stop using the word "budget". "Money Plan" tells us that we’re going somewhere, that we have a goal of total excellence! Now, why should you have a "money plan"?

1. Knowledge is Power

Your money plan will show you exactly where your money is going to end up when it’s spent. You’ll be able to see your plan for every dollar you earn, and how close you are to reaching your goals. How many of your friends and co-workers can say that about their finances?

2. Decision-making influence

Remember the last time you tried to make a "financial decision"? It was probably deciding which bill collector wasn’t getting paid that month. With your money plan, you will be making decisions that are in YOUR best interest, not the interest of XYZ Collection Agency. Real decision making power will be in your hands. You’ll be the CEO of You, Inc!

3. Simplicity

Think about all of the loose papers you’ve got filled with random money calculations and notes. With the time you spend trying to sort it all out, you could be planning your next financial move or be out earning even more money! Even the most basic money plan will automatically sort your records into categories before you make a move. You’ll find time you never thought you had! On top of that, you won’t have to scramble to produce financial records – you’ll already have them.

4. Relationships

Are you married? Have children? The #1 cause of marriage and relationship disaster is lack of communication and planning with money.

Your money plan will provide a visible agreement between you and your partner. You could sit down, if only for 10 minutes, at the beginning of each month to agree on your plan. The key here is to work together during this session. It will do wonders for the remainder of the month. Everyone involved gets a say, because everyone involved will benefit from the system.

5. "We can afford that"

After you have your money plan working for you, you will FINALLY be able to say with confidence, "We can/can’t afford that" and you’ll have the documentation to back it up.

No more, "we can probably afford that" (if we eat ramen noodles for the next 3 months!).

6. "We have HOW much?!"

Again, after you have your budget working for you, you WILL find money you didn’t know you had. It is uncanny how this works. When I started my first budget 2 years ago, I was extremely skeptical. After 2 months (making the same amount I made when I started), I literally said to myself, "I have a lot more money than I thought!" ATM fees are no longer an issue. That automatic internet subscription renewal is no longer a surprise. You’ll learn exactly where you’ve been wasting money, and you’ll know where the best deal for your buck is.

7. Wealth Building

Money in your bank account will start to increase as your money becomes your employee, not your master.