I found this article in Investopedia and thought I’d share it with you. I’ve blogged about my financial experiences before and I can’t stress the importance of doing a budget. In this economy you have to use your money wisely. A number of these myths have run through my mind at some point. Budgets work and it’s worth the effort to regularly maintain. There’s more info explaining each point in detail. Checkout the source link below to read the article.

1. I don’t need to budget.
2. I’m not good at math so I can’t manage my money.
3. My job is secure.
4. Government-sponsored unemployment pay will tide me over if I lose my job.
5. It won’t happen to me.
6. I don’t want to deprive myself.
7. I don’t want anything big so I don’t need to save for anything big.
8. Any money I save would just be taken when I apply to grad school/an MBA program or when I send my kids to college.
9. I don’t need to budget because I’m debt-free.
10. I don’t need to budget because I always get a raise/bonus/tax refund.

source