Individuals need and should have a personal budget because it is way more financially better for

them and just in case of an emergency or something they need to get done at the last minute
that's relevant they have it there and ready to go. Also so they can be more organized with their
money and easily put it to each category needed for money. It is important to understand cash
inflow and cash outflow because it later becomes payment for things also money going into the
business and cash outflow is money leaving the business. Dept affects one of your budgets by
the longer it takes to pay off the dept the more costly it can be and if it goes wrong it will have a
huge negative affect on your credit score.the largest category in my budget is my cell phone bill,
i can change my expenses by maintaining a positive budget and not wasting it on unnecessary
stuff that are truly not needed. Setting aside savings as soon as you get paid will make your
budget effective because it's financially helping and without owing or asking for money.