NOT BUDGETING
Setting a budget improves mental health and well-being. Roughly 62 percent of budgeters “feel more in control” over their money with a budget, 55 percent feel more confident, and 52 percent feel more secure, according to a survey by the Certified Financial Planner Board of Standards. And among the roughly 70 percent of people who have a budget, 72 percent say it helped them get out of debt. Credit cards can help keep a budget, because they track expenses — but shouldn’t be used in lieu of one.
