Keeping track of economic news

Do you know how to keep track of economic news? I think it is important for every forex trader to keep track of economic news in order to account for huge price swings. I recommend forex traders to create their own economic calendar. This may take some time, but for me the benefits are worth it.

I just use third party economic calendars. worldeconomiccalendar has live economic data from every country.

What are the benefits of creating my own?