People, just in general, fall into two categories: spenders, and savers.
And really, it’s more of a spectrum. I’m more of a saver than my husband, but less of a saver than my friend. It’s all relative, really.
But no matter where you fall on the spectrum of spending and saving, you need a budget.
If you’re a spender, you need a budget to help you keep track of your spending, to help you know how much you have coming in so you don’t overspend, and to help you track your savings so you can see that you’re making progress.
If you’re a saver, you need a budget not because you need to watch your spending, but because it will help you know when you have a little extra that you can spend on something frivolous or fun.
Spenders need help saving, and savers need help spending.
If you spend too much, you go into debt, and then you have to climb out of that hole as well as trying to reign in your spending, which is no fun. Easier to just to spend less than you earn.
If you save too much, and you never allow yourself to buy anything frivolous or fun because you think you can’t afford it, you end up feeling constricted and constrained and, if you stick with your not-spending plan, unhappy.
Moderation in all things, including moderation.
