If you find the idea of budgeting scary or limiting, check out my article on why not budgeting is more frightening than budgeting. In this case, I include knowing your cash flow in with budgeting. If you’re on top of where your money’s going, that’s as good as any budget as long as you’re also controlling it. Not knowing what you have leads to more nagging feelings and worrying than knowing outright what you can and can’t do.
I think that if you want to make any change in your financial situation, you have to use some form of a budget, which is why I write about it so often. I have a free spreadsheet you can download to create a budget and track your spending: [download#8#nohits]
Already on top of your spending? That’s great. However, it’s not a reason to rule out budgeting. The snowflake method of paying off debt also works for saving for goals. And one of the best ways to snowflake is to look at the leftovers from your budget. You can also track gross inflow + gross outflow, but I like seeing it spelled out.
So if you’re interested, head on over to Gather Little by Little and join the budget dare.