It is important to set your financial priorities in life, as this can help secure your financial future. Improper handling of funds can be too stressful. Many people do not know where and how they spend most of their income. How many times have you withdrawn money from an ATM, only to find out a few days later that there is none? It is often difficult to remember how much you have spent, and that money is often spent on frivolous purchases. A budget will help avoid this by holding people accountable for the income they spend. If a person only has $50 a month left for food, they can opt out of buying a $3 designer coffee.