What did the CFPB find out about budgeting??
A study by the Consumer Finance Protection Bureau came to three conclusions:
-Lack of meaningful, timely feedback appears to be a challenge to managing finances.
-Budgeting can be overwhelming or too much of a hassle.
-People generally do not benchmark their spending to their budget frequently or regularly.
So what do we do?
Making budgeting simple can help. Try tracking spending in just a few categories. Your mortgage doesn't change every month, but your grocery spending might have some wiggle room. Track that! Find an app you will easily update as you spend and that your partner will use easily too—and will sync across your phones. Baby steps people, baby steps!