TRADO

  I’m going to say something that might feel controversial coming from a finance newsletter. Budgeting probably won’t fix your finances. Yes, it doesn’t mean that budgeting is a waste and tracking your spending is useless. But the way most people approach budgeting is fundamentally set up to fail, and when it does, they blame themselves instead of the method. Suppose it’s Sunday, you’re sitting on your balcony enjoying your hot coffee, and then you open a spreadsheet or download that app everyone was talking about. You just start creating different categories like groceries, rent, subscriptions, entertainment, and set a budget for each one. In that brief moment, you feel like you have finally gained control over your finances. And then Tuesday arrives. You forgot to track the cost of your friend’s birthday dinner. The parking ticket didn’t even cross your mind. You bought an item on sale that you had been wanting for months. Finally, after the bonus was announced, you ordered a mea...