I have always had a budget and it's always been a tight one. I want to make sure that all of the important stuff is paid for and whatever is left gets saved. I'm too am amazed at how many people don't budget their money. They really don't know what they are missing out on.

I've done both, but I am currently about to transition from a loose budget to a tight one. I have a certain amount of money I want to save this year and I'm going to have to cut out some of the frivolous stuff to make it happen.

This is spot on. Tight for when you have to be and loosen it up for extra savings. I am just really glad to see that other people think the same. Budgets help you save money.

I would agree with your approach, and I think that is the right philosophy.

I have a tight budget when I need to and a loose budget when I can. I tend to loosen up the wallet during this time of the year. I believe that being frugal should take priority over being a spendthrift.

I believe it is good to experience both a tight and a loose budget. Depending on your circumstances and time in life, you will need both, and will know how you react to both. The tighter budget will help you stay in check, but there are certain situations that you cannot control, and you need to be able to have a more loose budget to be able to plan for the unknown.

I budget but I don't stick to it all the time. I guess you could say my style of budget is loose. I need to tighten it up a bit. I would like to save more money in 2016 so I need to stick to my budget. I think I'll even pull part of my paycheck out and put it into a different account - and not touch them money.

It sounds like I'm not the only one that thinks that it is important. I try to explain to people why it is so important. I notice when I don't write down what I've spent, I tend to blow a lot of money. I'm an accountant so I'm great at numbers. Even so, without my budget I would be lost.

I couldn’t agree more to this thread and I love hearing it! Budgeting is not at all for poor people, it’s for smart people! You work hard for your money, and you should organize your finances so you get to keep as much as possible. I use excel, but I also use Mint.com to view my transactions online. There are many providers online that have very easy and free tools for budgeting.

Hi DJames, you are absolutely correct. IMHO. discipline is on of the marks of a person's character, and will push or pull you away towards a successful life. You could be a millionaire, but imagine if you didn't budget. This money would probably be spent and wasted away pretty fast.

I have always used a budget as a tool for managing my finances. I know so many who think a budget is only for 'poor' people or people who are in debt but they're so wrong. The budget is the tool that keeps you in control so that you can save and invest, rather than just letting your money slip through your fingers. Sometimes that budget has been fairly loose, while other times it's been tight, but it's always done the job.

In my case I use an MS Excel Worksheet and plug in all the fixed costs (tight) as I know they have to be paid such as house payment, auto loan, natural gas, electric, city utilities, cable, medical premiums, life/dental/drugs insurance premiums, subscriptions, telephone and any other items that recur. Then (loose) on recreation, miscellaneous, investments, savings and so on as I can adjust these depending on what's happening in my world and oh yeah "life's stuff".

I love talking to people about their personal budget. I cannot believe how many people don't budget. I think that I would budget my finances no matter how much money I made. When you make a budget, is it a tight or lose budget? Do you stick with it or do you build in some wiggle room?

I've been pretty fortunate to stick to my budget and by doing so I have a nice savings account.