That's good as a general rule but I don't budget any more after more than a decade doing it. I already have a lot of experience in this, I have the big expenses under control and in general at the end of the month I am cash flow positive, I have money left over even though I invest at the beginning of the month. So there has come a time when I have decided to relax a little in that sense. I don't rule out doing it again in the future if necessary, but I don't think so. For anyone who is just starting to invest, or who is in debt, or who has little net worth, I think it is essential. Because most of the financial advice are created for middle class to poor. Like 50/30/20 rule, if someone earn $60K per year in US, it's make sense to use that rule, but if they earn $1.2 M per year, it's not make sense for someone to force themselves use $60K for their monthly needs. When someone is too rich, there are no rules, even they can buy the rules. Regardless of our financial status honestly I must say that everyone does need a good financial budgets, the importance of financial budgets has no limits towards our financial status and it can not be overly emphasis, if the so called upper class are not making financial budgets then how can they be able to increase the size of their wealth over time, if we considered the fact that humans wants are insatiable and in a situations were there is proper budget management then an upper class can become a middle class or even a lower class because of lack of good budget management.
That's good as a general rule but I don't budget any more after more than a decade doing it. I already have a lot of experience in this, I have the big expenses under control and in general at the end of the month I am cash flow positive, I have money left over even though I invest at the beginning of the month. So there has come a time when I have decided to relax a little in that sense. I don't rule out doing it again in the future if necessary, but I don't think so. For anyone who is just starting to invest, or who is in debt, or who has little net worth, I think it is essential. Because most of the financial advice are created for middle class to poor. Like 50/30/20 rule, if someone earn $60K per year in US, it's make sense to use that rule, but if they earn $1.2 M per year, it's not make sense for someone to force themselves use $60K for their monthly needs. When someone is too rich, there are no rules, even they can buy the rules. Regardless of our financial status honestly I must say that everyone does need a good financial budgets, the importance of financial budgets has no limits towards our financial status and it can not be overly emphasis, if the so called upper class are not making financial budgets then how can they be able to increase the size of their wealth over time, if we considered the fact that humans wants are insatiable and in a situations were there is proper budget management then an upper class can become a middle class or even a lower class because of lack of good budget management.

That's good as a general rule but I don't budget any more after more than a decade doing it. I already have a lot of experience in this, I have the big expenses under control and in general at the end of the month I am cash flow positive, I have money left over even though I invest at the beginning of the month. So there has come a time when I have decided to relax a little in that sense. I don't rule out doing it again in the future if necessary, but I don't think so. For anyone who is just starting to invest, or who is in debt, or who has little net worth, I think it is essential. Because most of the financial advice are created for middle class to poor. Like 50/30/20 rule, if someone earn $60K per year in US, it's make sense to use that rule, but if they earn $1.2 M per year, it's not make sense for someone to force themselves use $60K for their monthly needs. When someone is too rich, there are no rules, even they can buy the rules. Regardless of our financial status honestly I must say that everyone does need a good financial budgets, the importance of financial budgets has no limits towards our financial status and it can not be overly emphasis, if the so called upper class are not making financial budgets then how can they be able to increase the size of their wealth over time, if we considered the fact that humans wants are insatiable and in a situations were there is proper budget management then an upper class can become a middle class or even a lower class because of lack of good budget management.

That's good as a general rule but I don't budget any more after more than a decade doing it. I already have a lot of experience in this, I have the big expenses under control and in general at the end of the month I am cash flow positive, I have money left over even though I invest at the beginning of the month. So there has come a time when I have decided to relax a little in that sense. I don't rule out doing it again in the future if necessary, but I don't think so. For anyone who is just starting to invest, or who is in debt, or who has little net worth, I think it is essential. Because most of the financial advice are created for middle class to poor. Like 50/30/20 rule, if someone earn $60K per year in US, it's make sense to use that rule, but if they earn $1.2 M per year, it's not make sense for someone to force themselves use $60K for their monthly needs. When someone is too rich, there are no rules, even they can buy the rules. Regardless of our financial status honestly I must say that everyone does need a good financial budgets, the importance of financial budgets has no limits towards our financial status and it can not be overly emphasis, if the so called upper class are not making financial budgets then how can they be able to increase the size of their wealth over time, if we considered the fact that humans wants are insatiable and in a situations were there is proper budget management then an upper class can become a middle class or even a lower class because of lack of good budget management.