3 ms·
Budgets are not needed if you pay yourself first (i.e., save towards your goals as soon as you are paid) and only spend the money you have left over. Then you c
by stewx 4y ago
Budgets are not needed if you pay yourself first (i.e., save towards your goals as soon as you are paid) and only spend the money you have left over. Then you can't go into debt and you are meeting all your goals.
- CGamesPlay 4y agoPlans aren't needed if nothing ever goes wrong. What happens on the day you can't pay yourself first? That's what the budget should answer for you.
- samsolomon 4y agoYeah, the reverse budget. I'm a fan of this. It might not be quite as efficient, but there's almost no mental overhead.
- remram 4y agoThat sounds like a budget.
- wisnoskij 4y agoI think this misunderstands the point of a budget. A budget is not primarily designed to develop a growing savings account, tho that is a very good side effect. A budget is designed so that when the rent becomes due on the 29th, or you are hungry and you want want to consume food on the day before your paycheck comes in, you don't discover you have $2.50 to your name. You could put money aside for food every day, and for rent, and utility, as well, and that would be called a budget. IN fact just paying yourself first, is just a really simplistic underdeveloped budget.
- mattw2121 4y agoYou literally just described a budget.