Heyyy… Random but do you currently budget your personal finances? Do you think it’s necessary or do you just get your check, pay bills and spend as things come up?

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I made myself a budget sheet. I write out all my bills, expenses and savings before I receive my check. I think it’s extremely necessary, otherwise you’re going to over spend then wonder where your money went.

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I loosely “budget” by allocating funds via various direct deposits/ACH debits before they even come in the door (retirement, savings, rainy day, college fund, bills, tithes). Then whatever is left over is why we have to “play” with.

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*what

A budget is a plan of where you want to go financially. It doesn’t have to be convoluted. Total all of your income and subtract from it all of your expenses. If it is positive, that’s cash excess that you can save. If it is negative, you have a shortfall. Overall, if you’re happy getting up every day and going into work, don’t worry about budgeting at all. If you want to one day have financial freedom and to ultimately retire, start budgeting today.

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I make a budget it has been very helpful for me to not overspend

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I always make a budget. I usually do a monthly budget. I like to know where my money goes and how much I can save out of it.

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Definitely! Budgeting is my true friend. It forces me to prioritize, spend wisely, and save at the same time. I do the proportional budgeting, it's easier for me, you only have to divide your money into 3 categories 50% for needs, 30% for wants, 20% for savings.

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I do. With the current situation of the economy everyone is forced to go on a budget. The effect of inflation makes it even harder for employees to allocate their salaries to all the daily expenses.

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I feel like writing down expenses & budgeting can get to tedious. So the way I go about it is by automating a lot of it. I have a percentage of my check get deposited into saving, investing, retirement & an expense account.

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I make a budget. I find it important to know where your money is going on a monthly basis, and its easier for making future plans

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I have a rough budget, but mostly rely on automatic savings and deposits to keep me in line.

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Absolutely! Keeping a monthly budget definitely keeps me in line. I write out all of my financial obligations at the beginning of the month, deduct from my expected pay, then decide how much to save from the remaining money and how much can be used on "fun" things.

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I have a rough budget for stuff...but tbh, I've increasingly abandoned it. I put away some money in savings during payday and after that, I do whatever I want

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