Unbudgeting: Budget Without Budgeting

Unbudgeting is an alternative to traditional, personal budgeting. Think of it as a way to budget for people who hate budgeting.

Subscribe: Apple Podcasts | Google Podcasts | Spotify | RSS | More

Do you prepare a budget for your household? If not, you’re in the majority. Nearly 3 out of 5 people don’t, according to a U.S. Bank Possibility Index study.

We must confess: we don’t prepare a traditional budget, although we have in the past. Now, we practice what we call “unbudgeting”.

We discuss this on The BIGG Success Show today. We’ve found it fits us more naturally than traditional budgeting. See if it makes sense to you.

Unbudgeting is budgeting for people who hate budgeting.

It’s a way to manage your money without the hassle of budgeting. Yet, you get the benefits of budgeting – a clear understanding of your financial situation.

That’s the similarity. Now, let’s look at…

5 ways that unbudgeting differs from traditional budgeting

The outcome of unbudgeting is an action plan

The outcome of a traditional budget is numbers on a page. How exciting is that? For some, it helps them take steps to a brighter future. For most, it’s a snooze fest.

Unbudgeting gets to the actions you need to take quickly. It helps you move quickly to the actions you need to take right now to make your life better. The outcome is a plan of attack, which rapidly gets you moving in the direction of your dreams.

Unbudgeting gets you focused on goals

Traditional budgets set limits. “We will only spend $200 a month going out to dinner.” In many cases, these “limits” become permission to spend more.

For example, perhaps you are nowhere near your “limit” for the month. There’s a human temptation to spend to the limit. Otherwise, it feels like a loss, like we’re walking away from money – even though it would mean saving money.

Conversely, as part of the unbudgeting process, goals “pop up.” You discover targets you should pursue to put your financial house on a stronger foundation.

Unbudgeting yields continual improvement

Traditional budgeting seeks perfection. You hit your budget or you don’t. If you do, you can feel good about yourself. Otherwise, you feel guilty. It’s easy to get down on yourself.

Unbudgeting is about continual improvement. You clearly see where you are, your current reality. You can see how you need to improve, to create a better future reality. And you have an action plan, which shows you the steps to get there.

Unbudgeting is like a game

As we’ve said, some people love budgeting. However, most people hate it. To them, traditional budgeting is like a homework assignment. And it’s a really hard, really involved one. Can’t wait to tackle that, eh? (We say with a smirk.)

Unbudgeting is a little like a game. The environment changes over time. You have to react. There are other players – average people and people like you. Once you hit your goals, you can “play” again and pursue a new set of goals.

Unbudgeting provides intelligence, not just information

Traditional budgeting provides you with information in a cocoon. You largely look in your own world.

Unbudgeting provides financial intelligence. You see how you stack up to your neighbors, to other people like you. From this intelligence, you gain insights on how to move forward quickly toward BIGG success!

The unbudgeting tool

Our Financial Freedom Tool is the unbudgeting tool. Quickly see how your finances compare to your neighbors and make better financial decisions every day. Learn more about our Financial Freedom Tool.

Here’s to your BIGG success!

George “The Professor” & Mary-Lynn

Co-Founders, BIGG Success