What are the BEST FRIEND and ENEMY of a Budget?

Hello, Peso-Pinching Pinays!

If you have been searching for an app or any tool that would teach you how to effectively manage your money, you don’t actually have to go too far. This tool – the best that anyone could have – is, unfortunately, avoided by a lot of people. It entails discipline and works much like mowing the lawn or applying a sealant up the roof.

Budgeting may be simple and basic but there isn’t a more effective tool out there that can help you manage your finances. But don’t look at budgeting as something that will keep you from enjoying certain things. What it actually does is to show you how your money is supposed to be allocated. You will be saved from the harrowing ordeals of overspending and going into debt.

Budgeting is not supposed to stop you from enjoying things, it only ensures that you enjoy the things when you want them.

Many times we have already discussed the benefits of creating a budget. First, you get to control your money. Rather than have your money control you, at least, with a budget, you won’t feel stressed due to lack of funds since you did not plan how the money should be spent.

A budget also teaches you to stay focused on your financial goals. Since you don’t want to spend unnecessarily, you are prepped to attain your set goals. As opposed to the common notion, budgeting even makes it easier for you to make ends meet when you have limited resources.

Another benefit of having a budget is that you have a bird’s eye view of your finances. You practically know when it comes and where it goes. A well-planned budget can even help you know the things that you can affordinvest when opportunities arise, and even plan to reduce or totally eradicate your debts.  

Budgeting also helps in the organization of your income, spending, and savings as well as being able to save for both recurring and unexpected expenditures. 

If you have a spouse to share your finances with, then budgeting will also help you communicate how money can be used as a team. This will foster collaboration since everyone’s working towards a common goal.


Most probably, you already know the benefits that were discussed – and that’s wonderful. Now, in conclusion, what do you think is the greatest friend of a budget and what is its worst enemy?

A budget’s best friend will always be discipline and its antithesis is impulsivity.


Stop dreaming of SAVING. Begin saving today for as low as P75 per day. Get a free quote here,. schedule a free financial training for your group or company or call the Peso-Pinching Pinay herself —

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