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The canonical budgeting advice is to simply track when you pull cash out, and count any cash you withdraw as already "spent".
by ThrustVectoring 11y ago
The canonical budgeting advice is to simply track when you pull cash out, and count any cash you withdraw as already "spent".
- djrogers 11y agoThat's hardly 'canonical', and goes directly against many budgeting/tracking philosophies. It definitely doesn't solve the 'where'd it all go' problem, and teaches you nothing about your spending habits and patterns. Of course if you don't have any money problems, and don't need to break bad spending habits, then go ahead and do it that way - I often do as well.
- ThrustVectoring 11y agoOf course it teaches you stuff about your spending habits and patterns. Cash withdrawals are either earmarked as you withdraw them (for example, hitting an ATM up before visiting a strip club or bar), or they're withdrawn for facilitating impulsive purchases. You know the category of things they go to, because you record it when you withdraw it - you just don't know exactly what you did with it or when.
- jimbokun 11y agoI think this only works if you follow a "zero based budgeting" philosophy. https://www.daveramsey.com/blog/zero-based-budget-what-why https://www.daveramsey.com/blog/zero-based-budget-what-why