LIrvin Week 7 Assignment 3
Assignment #3.1 Keeping a Personnel Budget
Lettice Irvin
ENG 115- Strayer University
Professor Toye Wheeler February 22, 2015
Keeping a Personal Budget
Life takes control when adulthood begins. As you realize finances are more important than usual. Gaining financial stability assures as having a healthy life style. When budgeting is not obtained it leads to major personal and financial problems. Your credit score will soon decrease, especially if you are an individual that believes bills should be paid effectively to maintain a high credit score. When building a foundation for your family communication should be the first priority to manage a budget. If budgets are not met and one individual chooses to spend excessive it could be stressful on one individual than leaving them to pay all the bills. As a result lack of trust will be developing in the household, allowing the responsible adult not able to trust in other to take care of their financial responsibilities. So when uncertainty is given it can lead to a divorce. Financial hardship is one of the top causes of divorces. Many people look forward of having financial stability to maintain a secured life. Financial hardship can cause others problems such as depression. Worrying about not having enough income, having too many bills, allows too file bankruptcy to start a new beginning.
Personal budgets have great aspects. Budgeting allows you to become responsible to prioritize your spending, to make financial goals, managing your debt, save and assess your spending. Many people do not keep personal budget for one reason or another. Without a personal budget you will find yourself with debt not able to pay your bill as usual. The lack of knowledge is not taught on how to budget finances, which can lead into a vicious cycle. So if not prepared for an unexpected emergency could destroy individual or family that is impacted as well as the economy. The negative effects that it could have on one
Lettice Irvin
ENG 115- Strayer University
Professor Toye Wheeler February 22, 2015
Keeping a Personal Budget
Life takes control when adulthood begins. As you realize finances are more important than usual. Gaining financial stability assures as having a healthy life style. When budgeting is not obtained it leads to major personal and financial problems. Your credit score will soon decrease, especially if you are an individual that believes bills should be paid effectively to maintain a high credit score. When building a foundation for your family communication should be the first priority to manage a budget. If budgets are not met and one individual chooses to spend excessive it could be stressful on one individual than leaving them to pay all the bills. As a result lack of trust will be developing in the household, allowing the responsible adult not able to trust in other to take care of their financial responsibilities. So when uncertainty is given it can lead to a divorce. Financial hardship is one of the top causes of divorces. Many people look forward of having financial stability to maintain a secured life. Financial hardship can cause others problems such as depression. Worrying about not having enough income, having too many bills, allows too file bankruptcy to start a new beginning.
Personal budgets have great aspects. Budgeting allows you to become responsible to prioritize your spending, to make financial goals, managing your debt, save and assess your spending. Many people do not keep personal budget for one reason or another. Without a personal budget you will find yourself with debt not able to pay your bill as usual. The lack of knowledge is not taught on how to budget finances, which can lead into a vicious cycle. So if not prepared for an unexpected emergency could destroy individual or family that is impacted as well as the economy. The negative effects that it could have on one