Maybe post-spending line-item budgeting/tracking just ain’t gonna work here, and for the same reasons meticulous calorie-counting doesn’t work for many (most?) dieters.
- It’s tedious
- It’s guilt inducing
- There’s zero obvious payoff
There are worse financial sins than using a current bank balance as a budgetary guide. (e.g. spending because you haven’t yet maxed out the credit cards, spending because there are still blank checks in the checkbook.)
Since tracking line-item spending is so difficult, I wonder if there’s a way to set up a modern version of the “envelope method” that works with credit/debit payments? (The “envelope method” consisted of putting all spending (except bills that absolutely require checks or e-payments, like rent, the power bill, etc.) in envelopes in cash and simply grabbing the right envelope at the right time.)