When Should I Start Or Stop Budgeting

[Carpon]

So many times I have heard people say that you do not need budgets till you reach a certain age or level in life and financially and others say that there are times when you should stop making and adhering with budgets, like when you retire.

But I still have questions concerning this and I want to hear your opinions on what time and age someone should start budgeting and if necessary stop making budgets.

But Personally, what I think is that budget should begin when you begin to manage finances and money. Once you are living and managing your money and income, then you need to start making budgets even if it's from the early age of one's life. And on the aspect of when to stop, I think that budget stops when you no longer have funds to manage. Like when you are old to control things and don't know about how things are ran.

Do you think the same or you have some different thoughts on this?

 

[Bisolami]

So many times I have heard people say that you do not need budgets till you reach a certain age or level in life and financially and others say that there are times when you should stop making and adhering with budgets, like when you retire.

But I still have questions concerning this and I want to hear your opinions on what time and age someone should start budgeting and if necessary stop making budgets.

But Personally, what I think is that budget should begin when you begin to manage finances and money. Once you are living and managing your money and income, then you need to start making budgets even if it's from the early age of one's life. And on the aspect of when to stop, I think that budget stops when you no longer have funds to manage. Like when you are old to control things and don't know about how things are ran.

Do you think the same or you have some different thoughts on this?

I think you should budget before you begin to manage finances because budgeting includes how to manage your finance so I don't think there is a way you can manage finance without budgeting.

Also, I don't think it is advisable to stop budgeting because everybody who wants to use his money to do something reasonable will always budget for whatever money he has with him. Budgeting saves us from buying things impulsively.


Anyone who stops to make budgets for his money will always spend money recklessly. There are no two ways about it and there is no how the person can escape being in debt.