do you guys budget?

Question

I’m guilty of saying that I don’t budget. It’s mostly because I just don’t spend a lot. Maybe like $50 per week on groceries and then $1000 on rent.

I’m not too concerned about tracking every dollar because I max out my 401k and IRA every year. Then I invest any leftovers.

Curious as to how many of you guys budget?

random · Accepted Answer

When my income was large enough that I found a financial planner (i.e > $400k/yr) he was very clear that I shouldn't sweat the little stuff. Big purchases are where the money disappears. Grow your income and economize on rent, houses, vacations, cars, etc. don't worry about the avocado toast.

Taylor · Answer

Ish. I basically set aside all the savings/bills money from my paycheck automatically. Then the rest I divide by 14 and thats how much I have to spend per day. Sometimes I have a lot left over. Sometimes I have very little. It's not a perfect system but I used to budget everything and it was a bit maddening trying to keep track of everything and put it all into some type of software.

As long as I take care of all my savings goals first this makes my life a lot easier.

whiptx · Answer

I budget.

Youneedabudget.com

Wish it would have existed when I started my career. It took 2 years, but we have 8 months of expenses in the bank and max out both 401k and IRA, next 2 vacations are probably completely funded (depending on which we end up doing).

You don’t have to budget. I out earned my spending until suddenly I didn’t. If you set goals for your career, your fitness, your hobby, why would you not set goals for your money?

null · Answer

I'm also not a big spender, and I don't budget.

I would like to better track my cashflows though since I've started to accumulate monthly charges (e.g. utilities, internet, gym, amazon prime, audible, etc).

utopia · Answer

Grateful that I don't have to budget lol

do you guys budget?

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