Budgeting is a fundamental aspect of financial management that is often overlooked or misunderstood. It involves creating a detailed plan for how to allocate and manage resources, such as income and expenses, over a specific period of time. Despite its importance, many individuals and businesses neglect to create and follow a budget, which can lead to financial stress and instability. In this article, we will explore what budgeting is, why it matters, and how it can help you achieve your financial goals.