Here are 10 reasons why you should develop a household personal budget:

1. A budget helps show your progress towards achieving your financial goals and dreams, such as owning a home, buying a new car, becoming debt free, etc.

2. A budget puts you in control of your money, instead of your money controlling you.

3. A budget shows if you're living within your income. Without a budget, it's difficult to tell if credit card charges and balances are within your means, because it is 'floating' debt.

4. A budget can help you meet your saving plans. A good budget sets aside money for savings and investments.

5. Following a realistic budget frees up spare cash so you can use your money on the things that really matter to you, instead of wasteful spending.

6. A budget can get your whole family involved in meeting your goals.

7. A budget helps you prepare for emergencies or large or unanticipated expenses that might otherwise take a financial toll on you.

8. A budget can improve family relationships. Many marriages dissolve due to money problems, and children do not always understand the financial impact of frivalous spending.

9. A budget reveals areas where you're spending too much money wastefully.

10. A budget can keep you out of debt or help you get out of debt, and can create extra money for you to use on expenses that really matter.

Use Credit Federal resources to create a household budget and to track personal expenses.