Can someone explain the value of tracking expenses in detail? Seems to me expenses are either routine and ongoing or they are voluntary or unexpected. If they are unexpected, they can’t be predicted in any case.
Some people say they need to know what they spend. What you spend is easy. It is the difference between your net income (after taxes and saving) and what you have left the day before for the next payday or end of the month. Can it be anything else – except if you live on credit, of course, in which case you probable don’t want to know what you spend anyway.
Do you need a budget? Why? Your budget is set by saving first, and never ending a month with a unpaid credit card balance. Spend the difference any way you like. In a month or so you will know what life style your income can sustain. If it is not the life you want then you must increase your income or look for what spending must change …as I write this in my local Starbucks.
Am I exaggerating the simplicity? No doubt many people think so, but look closely, what am I missing?
