Smarter and Harder
YDNAB:
You Don't Need a Budget.
A strict, written budget is one of the most common and highly recommended tools for improving financial stability.
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Many families point to budgeting as essential in their success, and experts often suggest it as the first step to solving money trouble.
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But traditional styles of budgeting also have their flaws, and may not be ideal for everyone.
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Monthly finances are not always easy to predict, and missing monthly goals can be discouraging.
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Creating a budget can also be a stressful exercise. Making a negative association with money drives many people to ignore it entirely.
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Additionally, much like a strict diet, setting a strict, short-term budget can lead to a rebound effect with increased spending later.
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On the other hand, the problems that budgeting seeks to address are very real. Ignoring our money altogether is not helpful either.
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The good news is you don't necessarily need a budget to keep an eye on your money and build healthy spending and saving habits.
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If using a traditional budget spreadsheet or app works for you, that's great. But if you're like the rest of us, here are a few alternatives.
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Keep an eye on your monthly spending without prescribing or setting hard limits. Look for problem areas and gradually adjust spending.
Track and Adjust
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Pay yourself first. Put money toward savings and goals at the beginning of the month, then let the rest of your expenses fall into place around that.
The Anti-Budget
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Set up monthly auto-payments for all essential bills and money goals. Put good money habits on autopilot, and don't worry about the rest.
Automate Everything
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Swipe up for more tips and ideas on building a peaceful, successful financial life!
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