《英语流行话题阅读:语境识词4500》28 Why You Need a Personal Budget

（单词翻译）

　　Unit 28
Why You Need a Personal Budget
Credit can be a friend or a foe¹. It can be an asset or a liability. If you abuse the privilege, it can ruin future plans. If you find your debts have piled up and you feel out of control, develop a plan to help you solve the problem. Getting out of debt takes a lot of work and self-discipline. It can't be done overnight, but it can be done!
In today's world there are few people who take the time to create a personal budget. Some do not see the value in doing so; others simply have no desire to restrict their spending habits. With this in mind, it should surprise no one that the number of personal bankruptcies² has reached an all time high. People have reached a point in our society where they buy on impulse with no thoughts on the consequences. In order to reverse this trend people need to become more responsible with their patterns of spending. The personal budget helps an individual accomplish this behavior.
A personal budget is a financial plan, which sets limits on the amount of money that will be spent on each category of expenses in a given month. A good budget will take into consideration such factors as: the amount of income being received, retirement³ savings⁴, and an emergency fund.
Many people have no idea exactly where or how they spend a good portion of their money. How many times have you taken money from the ATM only to realize a couple of days later that it is gone? Many times it is difficult to remember how exactly yo spent the money, and often times this money is wasted on foolish and light-hearted purchases. A budget will help prevent this from happening by making a person accountable for the money that they spend. If a person only has $50 left for monthly food expenses then they may decide to give up purchasing that fancy $3 designer cup of coffee. Another great benefit is that a budget portrays⁵ an accurate idea of how much an individual can actually afford to pay for various consumer items. Whether it's a house, a car, or a new TV, a person will be able to determine whether or not a certain purchase will fit within their monetary⁶ constraints⁷.
It is important to realize that simply crating⁸ a budget is not enough. This in and of itself will do a person absolutely no good if he does not discipline himself to stick to it. At times this will be very difficult, particularly if a person has established the habit of freely spending without a second thought. However, the long-term benefits of financial freedom, debt free living, and a comfortable retirement far outweigh⁹ any potential difficulty. If you have a hard time avoiding impulse buying, leave the credit cards at home. Keeping track of what you buy is another idea. Those purchases add up at the end of the month without you realizing it. Finding ways to reduce spending is hard for many families, but not impossible to do. Everyone in the family should be included in the cutbacks. The more involved the family is in planning ways to reduce spending, the more committed they will be to succeed. It is also a good lesson for your children to learn early in life.