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Another Non Budget Person Here

December 5th, 2006 at 02:28 am

I too, have no budget. I've never had one. And, as far as I can remember, my parents didn't have one either.

I'm awful with numbers, so it isn't likely I would do anything with them unless someone held a gun to my head.......and I'm WAY more inclined to save than spend, so a budget really never crossed my mind.

I have read here, during the past year of others working over their detailed budgets, being over.......being under.......and couldn't relate at all.

At any given time, I can state how much I have in savings, and the approx balance in my checking account. (I've never had a bounced check) I'm also pretty aware of the totals in any investment account, as well as the value of current real estate.......So, I'm not blindly heading down my financial road here.

But, month to month.......item by item isn't the way I work my money in.....money out situation. I just know what comes in, and I hold the expenses to well within that every month. I'm frugal to the point of cheap most of the time (although I've long ago reached the stage of having everything I need, so there isn't much spending going on)

I know the expenses too.....and have charted them in my Bills Folder for years. Seeing them in black & white is a big part of my Finance Plan (for the lack of a better word).....I think the key to my plan has to be in the Knowing. Knowing what comes in when, and knowing what has to go out when. Making sure the in is more than the out each month is just about it in a nutshell.

Anything left over at the end of the month just stays in the normal checking account and if the total gets above an imaginary line I have......I auto transfer it into my savings account. Then, from there it makes its' way into investment accounts. The reverse is also true, if I am going to need more in the checking, back the money comes.....

Which brings up the common thread throughout my Financial Plan....knowing without a doubt if an expenditure is a need or a want. I don't have much these days that falls into the want catagory, so the entire Plan is pretty painless and almost without a thought these days.

No Budget........It works for me.

2 Responses to “Another Non Budget Person Here”

  1. Frayed Buckeye Card Says:
    1165287450

    Isn't it amazing how as we age our wants become less and less.
    I'm happy when something leaves my possession. When I'm asked what I would like for a gift, I can honestly say, take something away. Who would have thought life would change so?

  2. Broken Arrow Says:
    1165331459

    I remember the story of this woman who didn't know a single thing about personal finances but lived very cheaply. All she did was throw all her extra money in a savings account at her bank. In fact, she never even knew how much money she had in there. When she died, the bank had to figure out who, if anyone, the 100K+ she saved up belonged to!

    In any case, as I mentioned elsewhere, I do know and budget everything down to the penny. I like it that way. I also realize that not everyone will be like that, and that the only thing that matters isn't how we manage, but just that it actually works for us. There is no one-size-fits-all in personal financing. In fact, I've even learned that certain aspects of personal financing is very much a... soul search I think. It can be a very personal thing.

    So, if no budgeting works, I say run with it! Smile

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