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Budgeting isn't for everyone, but 'intuitive spending' has its problems too

The article from MSN discusses the debate between traditional budgeting and intuitive spending. It highlights that while budgeting helps in tracking and controlling expenses, it can be restrictive and time-consuming, leading some to abandon it. On the other hand, intuitive spending, where individuals spend based on their feelings and needs without strict guidelines, offers more freedom but can lead to financial pitfalls like overspending or neglecting savings. The piece explores how intuitive spenders might benefit from setting some basic financial guardrails, like automatic savings or debt repayment plans, to mitigate the risks of their approach. It also suggests that a hybrid method, combining elements of both budgeting and intuitive spending, could be the most effective for managing personal finances, allowing for both financial discipline and personal freedom.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/budgeting-isn-t-for-everyone-but-intuitive-spending-has-its-problems-too/ar-AA1v8fMa ]