
This is just my own opinion, but I don't think budgets work. For many of us, anyway.
They're like diets. They can be restrictive and labourious. If you fall off the financial wagon, as many of us occasionally do, you might not want to get back on. Or you'll be worse off from feeling so controlled down to the last dime.
Don't get me wrong. Budgets are a great thing for many Canadians. But for the rest of us, we might need an alternative solution.
So, what's the answer? I like to do something called the 30-Day Anti-Budget. It's about choice and awareness, not sacrifice. This exercise is also about behaviour change. My husband and I do it every six months.
Tracking Can Be Fun and Empowering
According to a recent survey by FP Canada, money stress is the number one issue keeping people up at night, and that's over work, health and relationship stress. Tracking your financial calories twice a year can be fun and empowering.
How much money did you and your family find in step four? Using those extra dollars to fund your emergency account, pay off debt or invest can leave you feeling more in control of your finances, without being restricted. Give this exercise a try and see where your money's going!
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