Carpon
Valued Contributor
Just as budgeting has ample merits and benefits, the lack of it will also have it's effects which are indeed negative and affect the Financing of people in very negative ways.
Some of these negative effects include
✓ You will not have a layout of what you are spending on and this makes you spend on some irrelevancies and other unuseful things. When you do not make budgets, you will fall victim to the negative habit of impulsive spending which indeed has very adverse effects on financing.
✓ Lack of budgeting leads to poor saving. Sometimes, it is your budget that helps you save. You include your savings in your budget and you make sure you give each sector the amount allocated to it. When you don't budget, this consciousness will not be there are you will discover that your savings is irregular and this is a great impediment to anyone's Financial growth.
Some of these negative effects include
✓ You will not have a layout of what you are spending on and this makes you spend on some irrelevancies and other unuseful things. When you do not make budgets, you will fall victim to the negative habit of impulsive spending which indeed has very adverse effects on financing.
✓ Lack of budgeting leads to poor saving. Sometimes, it is your budget that helps you save. You include your savings in your budget and you make sure you give each sector the amount allocated to it. When you don't budget, this consciousness will not be there are you will discover that your savings is irregular and this is a great impediment to anyone's Financial growth.