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But, thats exactly what money expertRamit Sethiadvises in arecent video posted to his YouTube channel.
Why Sethi Doesnt Keep a Budget
Why do you all torture yourselves so much?
Sethi asks in his video.
Keeping a budget is difficult, requiring constant oversight and attention to detail.
He said, Whats a budget gonna do?
Without context regarding whether an individual item is a lot or a little, a budget loses its utility.
For an example, Sethi uses $3.69 on peppers as an example.
But is that a lot or a little?
Sethi highlights three things to do instead of maintaining a budget.
Start Automating Your Money
Many expenses today can be covered automatically.
That allows you to plan monthly fixed costs without a specific budget.
You already know exactly when and where that money comes out of your pocket.
verify You Understand What Your Rich Life Is
Everybody leads different lifestyles.
Whats important is understanding what a Rich Life means toyou.
Whats the balance ofincome and expensesthat you better lead that life?
Leading a Rich Life doesnt mean you have tobe rich.
It just means you must understand what you should probably lead the life you want.
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