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[quote=Anonymous][quote=Anonymous]A friend of my husband's recently said the following about their money management style - we aren't good with money, we just have a lot of it. 
It's easy to not budget when your HHI is 300k. You set aside 20-30% in savings and live off the rest because the "rest" is more than what most people are living off of total. 
Budgeting is paramount for the poor and middle class. Anyone who says different is a charlatan. 
[/quote]

I think a lot of it, though, is also what other people here have already said: Dividing up where the money goes is budgeting, and automating the process doesn't make it not a budget. If you're poor or middle class, though, deviations from your forecast can really mess you up: unexpected medical bills or a change in the weather that leads to higher utility bills can destroy a budget that couldn't accommodate putting money in an emergency fund.

My spouse and I don't have money worries any longer, but when we were starting out and planning to buy a house, we figured out what our expenses were at that time and where we could cut, and we stuck to that for years. Eventually our income increased such that we could loosen up in certain categories (can stay in a somewhat nicer hotel, for example) or ignoring them entirely (we could probably eat out every night if we wanted to). [/quote]

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