You're coasting along, paying your bills, and sticking a little bit of money into savings on the side. At face value, it would seem that you have a pretty decent handle on your finances. But if you're not following a budget, you're actually doing yourself a major disservice.
Many people assume they don't need a budget because they're not in debt, they're able to save, or their expenses are minimal. But the fact of the matter is that most Americans have poor spending habits and mostly empty bank accounts. Not only that, but countless households owe shocking amounts on their credit cards and struggle to break free from the evil cycle of debt.
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Source: Fool.com