高考英语《流行话题 语境识词4500》Unit28 Why You Need a Personal Budget素材.docVIP

Unit 28　　Why You Need a Personal Budget　　Credit can be a friend or a foe. 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 cant be done overnight, but it can be done!　　In todays 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 bankruptcies 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, retirement savings, 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 portrays an accurate idea of how much an individual can actually afford to pay for various consumer items. Whether its