KEY REASON

 

Key reason

One of the key reasons why budgeting and saving are important is that they help individuals to have a clear understanding of their financial situation. By creating a budget individuals can track their income and expenses.Identify areas where they are spending too much money and make adjustments to their spending habits. This can help individuals to prioritize their spending allocate resources more effectively and avoid overspending.

Budgeting also allows individuals to plan for the future and set financial goals. By creating a budget individuals can allocate funds towards savings goals such as building an emergency fund, saving for a down payment on a house, or investing for retirement. Budgeting helps individuals to be intentional about their spending and savings which can help them to achieve their financial goals in a timely manner