Comments on: Can you live without a budget?

By: LivingAlmostLarge

LivingAlmostLarge — Wed, 29 Oct 2008 15:14:15 +0000

Sounds great that so many people live without a budget. I’m still on a budgeting philosophy. I have set goals and wants. I am thinking that one day it will be nice to live without a budget and be roling in the dough.

By: Penelope @ Pecuniarities

Penelope @ Pecuniarities — Tue, 28 Oct 2008 20:58:06 +0000

We don’t live with a budget, either. We just try to spend only when necessary and as little as possible when we do. I like to say that we have a budget of $0 and try not to go over it too much.

My philosophy is that human nature is to push barriers and test limits. When something/someone tells you that you can’t do something, your natural tendency is to want to do it.

So when you make it a choice not to spend rather than a rule that you can’t spend, you don’t feel as if you’re being oppressed and might find yourself spending less than you otherwise would if you were on a budget.

I wrote a post about why we do this earlier this year if you don’t mind my sharing:
http://pecuniarities.com/the-no-budget-system/140

By: savvy

savvy — Tue, 28 Oct 2008 17:04:46 +0000

I don’t have a budget although I do track what I spend. I have pretty much automated our finances (tithes, retirement, bills, other savings) so whatever is left is free to be spent as we choose.

By: Amber C

Amber C — Tue, 28 Oct 2008 15:58:21 +0000

Interesting article. I can see myself in 5-10 years once the bills are paid and the mortgage paid off living without a budget.

By: Kristy

Kristy — Tue, 28 Oct 2008 13:33:33 +0000

We don’t have a set budget, however, we know approximately what we spend on what every month. About once a year we sit down and see if there are any areas where we can save more money, but that’s it. That being said, DH and I don’t really spend alot of money. We save quite a bit in retirement accounts and in taxable accounts and I don’t feel it is necessary to have a set budget.

Next year when the new baby comes, after I am done with maternity leave, etc. we will take a look at our expenses and our income and adjust accordingly. We know that we will be able to maximize our retirement accounts, but that we won’t be able to save as much in other accounts.

The good thing is that DH is always on board with this and neither of us are spenders.