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Re:The Golden Rule of Personal Finance by tejohnso on Thursday November 10, 2022 @08:41AM (#33546218)
> I don't care if you make $35K a year or $350K a year, you need a budget.

That's a catchy thing to say but if someone is making $350K a year and easily saving / investing six figures annually without a budget, telling themn they need a budget sounds a bit absurd. I'd say the further you are from being able to invest / save sufficiently for your long term goals, the more a budget will help you. Admittedly, not nearly as catchy.

Re:The Golden Rule of Personal Finance by mathgeek on Thursday November 10, 2022 @08:46AM (#33546280)
If you have income automatically set aside for investments and savings, you already have a lightweight budget in the form of "I set aside X% or $Y every month and the rest is discretionary."
Re:The Golden Rule of Personal Finance by fassssst on Thursday November 10, 2022 @08:54AM (#33546393)
That’s the best way to live, I don’t like micro-managing myself.
Re:The Golden Rule of Personal Finance by 1-more on Thursday November 10, 2022 @09:03AM (#33546554)
I’ve dieted down to different weight classes for sports and tracking everything is pretty miserable. It works when there’s a single date up ahead. I can’t imagine micromanaging finances like that indefinitely. I’m with you: expenditures are about some number, savings for a house downpayment is about some other number, and that’s enough for me.
Re:The Golden Rule of Personal Finance by wisnoskij on Thursday November 10, 2022 @09:20AM (#33546792)
That works for you because nothing or anything would work for you. I am in the same boat, a budget would serve no purpose for me other than encouraging me to spend more.

For the people who need a budget, they would just run out of money completely before their next paycheck and either get kicked out of their apartment, or dip into their savings.

Re:The Golden Rule of Personal Finance by ehnto on Thursday November 10, 2022 @08:53AM (#33546376)
This is more than most people have in my experience, if this is all the budgeting prowess you can muster then you are potentially ahead of the pack already.
Re:The Golden Rule of Personal Finance by nunez on Friday November 11, 2022 @02:15PM (#33565345)
this is literally the financial equivalent of "if it fits your macros"
Re:The Golden Rule of Personal Finance by vladvasiliu on Thursday November 10, 2022 @08:56AM (#33546445)
I think it can be useful even if you're able to save / invest "easily".

I'm in that situation. I'm fairly thrifty and don't spend much. But after looking back over my spending, I've realized there was enough useless crap that I could cut out. For example, I realized I was spending an enormous (to me) amount on lunches at work, though it was nothing fancy. It's just that I was working in a rather touristy / "rich" part of town, so aside from a pastry, everything was above €10. I started packing my own lunch most of the time and the cost went waay down for no discernible loss.

Bonus points for eating less and losing some weight, but that's a different story.

Re:The Golden Rule of Personal Finance by avereveard on Thursday November 10, 2022 @09:28AM (#33546925)
You need a budget at any income level. Saving more early means early retirement because compound interests stack well over years and years.

Or can save some hardness as you reach 55plus, when getting employed becomes harder but state welfare is still 10 years down the line.

An habit to budgeting helps because people aren't always top dogs.

Re:The Golden Rule of Personal Finance by mattw2121 on Thursday November 10, 2022 @10:01AM (#33547428)
You just demonstrated that a high earner has a budget to invest a certain part of their money. I don't disagree that as your earnings go up that the budget can become higher level.