My neighbor in Denver said I was 'too cheap' for using a budget binder

We were talking over the fence last month and I mentioned my paper budget binder system. He laughed and said it was old school and that I was being too cheap by tracking every dollar. He uses a single credit card for everything and just pays it off. My binder helped me save $2,300 for a new roof fund in under a year by catching small leaks. I think his way misses the details, but he says my way takes too much time. Which side are you on, detailed tracking or the simple one-card method?

3 comments

3 Comments

the_wren1mo ago

Did you see that study about how writing things down helps people stick to goals? Your binder clearly works for you, and saving that much money proves it. His one card method might be fast, but it wouldn't catch those small leaks you found.

rubys8023d ago

That study is solid, but I think the real trick is catching those small leaks like you said. I've seen people miss fifty bucks a month just on subscriptions they forgot about.

carr.elliot1mo ago

Read something similar about how the brain remembers things better when you write them down. I mean, it makes sense why your binder method works so well, the_wren. The small stuff adds up fast and you just miss it otherwise.