Explain the importance of a budget and why you should develop a monthly budget.  Write out in full sentences at least three (3) benefits or reasons for having a budget and two (2) pitfalls or problems that may occur without a budget.     In your response be sure to explain why your reasons will help you stay on budget and debt-free.   Example: The first benefit of having a budget is….. The second good benefit of why I will have a budget is….. The third reason for having a working budget is …..   A problem for not having a budget would be …… A big pitfall for not working with a budget could be ……

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