What are important components of a successful budget?

The most important is to always have a goal. Once it is accomplished, you need to come up with another bigger target. Budgeting is all about watching how you spend and where you spend. I would like to point out such components:

1. be money-savvy
2. cut unneeded expenses and by that I mean reconsider all of your expenses
3. be focused on the success only
4. stick to your budget no matter what.