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[quote=Anonymous][quote=Anonymous]David Bach, author of "The Automatic Millionaire" and "Smart Women Finish Rich," has a podcast I was listening to where he says budgets don't work. His contention is that you should automate your savings and then the rest is yours to do with as you please.

That's what we do, but I feel out of control with money. We save a little over 20% of our income each year (8% to retirement, 12% to after-tax savings) in an automated way, and then we blow the rest, and I really don't know where it all goes.

If you don't budget, why not? If you do, how has it helped you and what is your process?[/quote]

I actually generally agree with this. Too many categories just makes things difficult to track. So after we pull out money for saving, here are our other budget categories:

Nanny (autopay)
Mortgage and Insurance (autopay)
Charitable contributions (autopay)
Groceries
Travel
Everything else

Since the first three are on autopay, it really just is that we make sure to have money for travel and groceries. The rest just gets spent.

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