Giving every dollar a name means assigning a specific purpose or category to each dollar you earn, such as bills, groceries, savings, or debt repayment. This approach is important because it provides clarity and control over your money, ensuring that every dollar works toward your financial priorities and goals. When you know exactly what each dollar is for, you can make informed decisions, avoid unnecessary spending, and prepare for unexpected expenses without going into debt. Without a plan for every dollar, you risk overspending, financial chaos, accumulating debt, and missing out on saving opportunities, which can lead to stress and instability. Essentially, budgeting every dollar transforms your money management from reactive to proactive, helping you build financial security and confidence