Reply to Is it ok not to have a financial plan?

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Reply to "Is it ok not to have a financial plan?"

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[quote=Anonymous]I'm with you - we're kind of moderate spenders by nature whose incomes have grown much faster than our consumption. From my perspective, not having to think about money is the greatest luxury of being so fortunate.

When we were in our 20s, we tracked every single expenditure against a tight budget because we didn't have any room for error or else bills and tuition might not get paid. Back in the day, I even knew when which ATMs stocked $10 bills so I wouldn't walk around with a couple dollars more than I should!

At some point, it became clear that we had a generous cushion and it was a waste of time to budget and track like that. Since there isn't much relationship between our income and our spending, we stick the max in the 401ks, put 20% directly into our investment accounts, set all the bills on autopay and forget about it. Other than rebalancing the investment portfolio regularly and double checking the cash flow before writing big checks, we almost never need to think much about finances. [/quote]

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