Financial Confession - I Don’t Budget

My wife and I don’t make or follow a budget, at least not formally. We own a copy of Quicken and Microsoft Money and I’ve played around with some of the best personal finance software online but we don’t sit down every week or month, figure out what we’re going to spend, and track it to the penny.

Non Budgeting Strategy

This approach has worked with us for some of the reasons that Mighty Bargain Hunter describes and a few others.

Stable Costs

We have relatively fixed costs; our spending doesn’t fluctuate a lot from month to month. We don’t make a list of all the costs we need to cover each month but we have a pretty good idea how much is coming in and how much we need for expenses. Read the entire article.