Answer:
This question is incomplete, since you did not provide the planning pages and rough draft that you have learned. Anyway, I will give you an answer that will be useful for this question.
Explanation:
Once a spending budget is established, you can get an idea of the total income that is needed to maintain or grow your money. This information is essential for formulating effective goals and plans.
Without spending budgets, you run the risk of overspending, reducing or eliminating profit margins.
The budget should be evaluated periodically in relation to a person's actual finances, to ensure alignment exists and to help identify potential spending problems, cash flow gaps, savings opportunities, or future profit scenarios.
Budget planning and tracking will help identify unnecessary expenses, adapt quickly to changes in financial situation, and also achieve financial goals.
