![]() ![]() The best budgets have savings goals built into them. On the contrary, if you find yourself always aiming at the same financial goals - building an emergency, saving for a downpayment, saving for retirement - but never getting anywhere, it might be time to design a budget that helps you make progress. As long as you’re saving consistently, it doesn’t really matter what you do with the rest of your money. If that sounds like you, don’t worry about budgeting. They put this money into a savings account, a TFSA, or an RRSP, and they don’t touch it - not until they need it. They pay themselves first, meaning they set money aside the moment they get paid. If you’re already saving money, then a budget probably won’t help you. ![]() In fact, I’ll go ahead and say it: if one of the following fits you, you can ditch the monthly budget. List your expenses and match them with your income, so the commandment goes, or else you risk overspending.īut, thankfully, personal finances aren’t one size fits all.
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