I Ditched Budgeting — Here's Why

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Several years ago I gave up the traditional advice of budgeting with specific categories, and I haven't looked back. Learn why I gave it up, and how we have effectively managed our money without budgeting.

0:00 - Intro
0:42 - Why I Gave Up Budgeting
1:06 - Reason 1
2:08 - Reason 2
2:53 - Reason 3
3:52 - Reason 4
4:50 - Reason 5
5:13 - New Process Step 1
7:13 - New Process Step 2
9:54 - New Process Step 3

DISCLOSURES:
All content on this channel is for informational purposes only and should not be construed as professional financial advice or recommendation to buy or sell any securities. Neither host or guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Should you need such advice, consult a licensed financial or tax advisor. When you make purchases through links in this video description, the author may earn a commission.
  1. The Fioneers
  2. stop budgeting
  3. ditch budgeting
  4. how to control your spending and save money
  5. how to control your money spending
  6. control your spending habits
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Those 3 steps work well for natural spenders who want to meet their savings goals. But as a natural saver, I followed those steps and saved 60 - 80% of my income for years while missing out on experiences because I enjoyed saving so much.

Now I instead determine an amount I want to spend that's well above my basic living expenses, then either spend it now or put it into a sinking fund that must be spent within a year, then save what's left. I still save 20 - 30% of my income and have a much more balanced life.

hunnybunny