"I don’t like budgets", admits Uncle Bill of the always-excellent Ask Uncle Bill personal financial blog. "The word smacks of deprivation, denial, not getting what you want." He continues:
Financial planners and personal finance writers love, and I mean love, to write about how not going to Starbucks and not getting some kind of latte will save you a lot. Stop buying lattes and you are on your way to financial freedom. Get Starbucks out of your life and budgets take care of themselves.
But lots of people like, no love, Starbucks or there wouldn’t be so many of them. And, if you are one of those people, great. Go to Starbucks and order what you want. To me coffee is just a drug but if you want Starbucks, go ahead. I’m not going to stop you. Drink lattes till you drop. But, spend less on something else.
More words of wisdom:
Percentages limit your resources to a definable amount. You cannot have more than 100% of something. When expenses exceed 100% of the money available, you are broke"
On a practical level Uncle Bill advises that:
The key is to cover the basics, the Needs in the Hierarchy, to free up money for the fun stuff.
Read and learn here.
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