Budgeting and financial planning may sound like the same thing - but they aren't. Each represents a unique approach to the creation of a personal money management system.
Why should you care about budgeting and financial planning? There are two good reasons. First, a budget forces you to think of new ways to adjust your spending habits as your financial situation changes. Secondly, good budgeting habits help ramp up your thinking about money. Any experience you gain by managing money over weekly or monthly time frames can help prepare you mentally for the longer-term financial planning you'll face later in life.