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Maybe not tracking my money is my definition of financial freedom. $450k salary per year, live in a $750k fully paid off house, own 4 rental properties that generate enough cash after taxes every month to cover my personal property tax and insurance. I certainly couldn’t retire today, but I like my work and am only in my mid 30s. If something happened I could definitely walk out and not worry about finding a job. I don’t track anything that I spend, and I have not thought about money in years. That’s freedom to me.
I think the post is more talking about people with an average income that are struggling to get ahead.
I had a client who tried to tell me that their monthly food budget was $200, and they had 2 teenagers. They made a good, middle class income but could not save for retirement or other goals. I ended up making them put all receipts for everything into a basket for a month, then total and categorize them. Their actual grocery budget was closer to $800/month because they used cash for almost everything.
I had another client I made go through the same thing. Her husband was spending $20/day on coffee and also buying breakfast and lunch at the gas station on his way to his construction job everyday. He knew how much he spent day to day, but neither had bothered to do the math at a monthly or yearly level.
When you have tons of extra you may not need to track it, but for the average household it is important to pay attention.