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These guides tend to assume the reader makes a consistent paycheck more than their expenses every month. There are two big assumptions in there: one, that the p

These guides tend to assume the reader makes a consistent paycheck more than their expenses every month. There are two big assumptions in there: one, that the paycheck is consistent; two, that the amount is sufficient to cover the expenses of the previous month. All too often, for many people, these two assumptions are false. What good is advice like "pay your credit card in full every month" when you have no money left after paying rent? Or if you have just enough money to pay it off, but you're not sure how much you will have next month? How do you choose whether to save cash or pay debt? The article strikes a tone that seems naive and slightly patronizing, by failing to consider a situation that many people face on a monthly basis.

vinceguidry 7y ago
I don't get why every article on budgeting garners this reaction. Nobody is going to bother reading about budgeting if they don't make enough money to make it a priority. And it's still hard for people that do make that much money. And there are always young people who literally have never heard about budgeting before who still need the advice.
EpicEng 7y ago
If you have no money left after paying your bills then what sort of personal finance advice would be useful? This article is about using your capital to make more of it. Obviously that doesn't apply to everyone, and to say it's "naive and slightly patronizing" is ridiculous. Should we also avoid writing new car reviews? What if I can't afford it? Can I talk about my new phone? It may make some people feel bad, right?
mikestew 7y ago
If you consistently run a deficit, then such guides are not for you. I would think it a given that such a guide assumes outflow not exceeding income. So perhaps for a person such as yourself, Step 1: get expenses under control. One can offer all sorts of excuses as to why that's not possible, but the fact remains that it's not sustainable.
Kluny 7y ago
Too right. The expenses listed were very similar to my own, with two glaring exceptions: My rent is not $600, it is $1250. And my income is not $5000. Without going into detail, it's less than that, pre-tax.

vinceguidry 7y ago

I don't get why every article on budgeting garners this reaction. Nobody is going to bother reading about budgeting if they don't make enough money to make it a priority. And it's still hard for people that do make that much money. And there are always young people who literally have never heard about budgeting before who still need the advice.

EpicEng 7y ago

If you have no money left after paying your bills then what sort of personal finance advice would be useful? This article is about using your capital to make more of it. Obviously that doesn't apply to everyone, and to say it's "naive and slightly patronizing" is ridiculous. Should we also avoid writing new car reviews? What if I can't afford it? Can I talk about my new phone? It may make some people feel bad, right?

mikestew 7y ago

If you consistently run a deficit, then such guides are not for you. I would think it a given that such a guide assumes outflow not exceeding income. So perhaps for a person such as yourself, Step 1: get expenses under control. One can offer all sorts of excuses as to why that's not possible, but the fact remains that it's not sustainable.

Kluny 7y ago

Too right. The expenses listed were very similar to my own, with two glaring exceptions: My rent is not $600, it is $1250. And my income is not $5000. Without going into detail, it's less than that, pre-tax.