The word "budget" can sometimes conjure up images of a dude with a pocket protector hovered over an adding machine, ballpoint in hand, sweat dripping on a ledger. Budgets are too restrictive, archaic, and unnecessary...right?
Wrong.
In fact, quite the opposite is true. When every dollar has a category and a name and a purpose, it's easy to make guilt-free purchases. You're no longer "asking permission" from a spouse (or even from yourself!) before pulling out that debit card. Let's say recreation has $100 for the month. The next time you're invited out to dinner with friends (or in COVID world, you decide to order takeout and eat with Don Draper instead), there's no question as to whether or not you have the money for some fun.
"But Susan, I am already a wealthy person. I don't need to budget."
Wrong again.
Those who are truly wealthy still make a plan and stick to it. That's half the reason they've grown in wealth to start with! In this house, we're 12 years into budgeting, and we're just getting started.
Don't know where to start? Try EveryDollar, the free budgeting tool from Ramsey Solutions. Its name says it all: Like I said, when every dollar has a name, it's easy to make smart money decisions. This intuitive budgeting website and app take the sting out of budgeting. It's my top recommendation for beginning to budget. Check it out!
What's your past experience with budgeting? Tell us in the comments!