9 thoughts on “Bank Registers & Budgets – I Don’t Waste My Time

  1. I couldn’t agree more. I haven’t bothered with the checkbook register since high school, and I have written up a post called Budgets are Not Sexy. I’ve used Mint for a year to get an idea of what our spending actually looks like, but I don’t use it for the budget feature.

    Budgets are great for those that need them, but ideally, you move to mindful spending without the need for a budget.

    Best,
    -PoF

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    • Agree. I don’t pay attention to the Mint budget feature either. A great big-picture tracker for sure though.

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  2. I think it is a big waste of time also. Most of what I do is just by mental accounting and I do a pretty good job of screening my purchases on the front end before I do it. I do track a few categories on a spread sheet that I want to monitor to make sure Im not overspending. For example, you could just track your dining out spending every month. Then you can decide if you are spending too much in that area and cut back.

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    • I’ve always kept extra in mine so I don’t need to think about it too much. My wife keeps hers balanced – out of habit and hope she catches a bank error at some point.

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  3. We don’t track very closely now but use Mint to see where we are on our general goals. E.g monthly restaurant and grocery spending as two areas we watch more closely.
    Personal Capital for portfolio changes.
    I think we will track more at FIRE but that is maybe me thinking too much about the absence of a regular paycheck. Probably more mental games than anything!

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    • I’ve found we track spending & net worth much LESS since retiring. For some reason, it seems a lot less interesting than having fun & goofing off! 🙂

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  4. Pingback: FIRE Station Fun – Bridge To The Future | Mr.FireStation

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