The goal of a budget is to control spending so that you can live within your means. When you have a budget set up, you know exactly where all your money is going. Allocating money and budgeting are both necessary steps in the process of creating and maintaining a budget.
It’s always good to have a little bit of space in your budget for unexpected expenses, but you don’t want to go beyond your means. A budget is like a roadmap that you follow and know how to get to when you need to.
