Budgeting is Good…But Here’s How to Do it Better
Everyone knows about the importance of budgeting. You read any guide on personal finance and this will usually be the first tip.
I can’t disagree with it. It’s the single greatest tool you have at your disposal. If you’re going to manage your finances you need to know about your finances.
Yet only 41% of Americans actually use a budget to help manage their finances. This is shockingly low.
A further 27% of Americans even claimed they don’t need a budget. Now, if you’re Mark Zuckerberg or Bill Gates you can likely get away with forgetting about a few millions here and there.
But that doesn’t represent the majority of us. Yes, you need a budget. If you don’t have a budget, get one.
I’m going to show you how to take the budget away from an arbitrary figure on a screen. I’m going to show you how you can not only budget but also track your profit and loss to track your spending behaviours.
Consider it more than a simple budget and more like a measure of your spending.
Disclaimer: Perhaps this isn’t conventional, but it’s always worked for me, so decide if it sounds like something you would like to try.
The Real Flaw in the Average Monthly Budget
