Credit card allows you to spend over and above your current budget, which is bad, especially if you are not expecting any money to come in anytime soon. 2. Saving Make a saving plan - Everytime you receive an income, whethere that be from your regular salary, bonuses or sidejobs, take at least ten percent (10%) from it as your savings. You might think of a budget as financial handcuffs - meaning you are restricting yourself from spending money on the things you want. This isn't so. Instead, think of it as a means to achieve financial success. Whether you make thousands of dollars a year or even hundreds of thousands of dollars a year, a budget is the first and most important step you can take towards putting your money to work for you. The water you have used in taking a bath can still be used for the cleaning the bathroom or for washing and brushing the dirt off your shoes. The money allotted for transportation should be handled sensibly. As much as possible, you must avoid purchasing very expensive car models. Second-hand cars are enough to take you around the state. We all want to live well and comfortably without busting our budget. We want to have the right amount of money when we need to pay the rent, utilities and other necessary expenses but still have some money left to buy those things we want. Oh, yes we want to have "financial control" as economists have put it. Budgeting and planning are the main features of budgeting software, as the name itself implies. It produces recorded budgets that are detailed and accurate. Budgeting software guarantees timely and accurate data manipulation, analysis and management of the budgeting process. Most budgeting software allows you to customize according to your budgeting needs. To finance committees, budgets hold staff members accountable. To most, it consumes too much time and effort. However, budgets are important to any person or organization's success. Budgets are guides to show the allocation of resources. Such would include money, time, equipment, and space in order to accomplish a certain task.