http://www.paidtwice.com/2008/01/11/dont-make-the-fatal-flaw-in-budgeting/#comment-10547 Challenge #1 round-up | Sense to Save Fri, 11 Jan 2008 20:32:19 +0000 http://www.paidtwice.com/2008/01/11/dont-make-the-fatal-flaw-in-budgeting/#comment-10547 [...] Paidtwice has some excellent advice warning us not to set up an arbitrary spending plan. She says that the more flexible a budget is, the better it will work. She points out that Once you understand where your money is going, then you can split it up into categories for spending purposes. In fact, Id argue as long as you are keeping track of all your income and expenses in detail, and you are consistently meeting your spending and saving goals, thats close enough to a budget if it consistently works for you month after month. Absolutely.[...] […] Paidtwice has some excellent advice warning us not to set up an arbitrary spending plan. She says that the more flexible a budget is, the better it will work. She points out that Once you understand where your money is going, then you can split it up into categories for spending purposes. In fact, Id argue as long as you are keeping track of all your income and expenses in detail, and you are consistently meeting your spending and saving goals, thats close enough to a budget if it consistently works for you month after month. Absolutely.[…]

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