Don’t Let Budgeting Myths Sabotage Your Finances

Do not think of this as budgeting, because the situation is changing so fast you cannot really think long-term. Take a breath and just deal with this month. Wayhome studio/Shutterstock

Dear Dave,

I made a resolution to start following your plan in 2021. I talked to my parents about this, and while they like some parts of your teaching, they don’t think living on a budget is necessary if you make good money. They also said budgeting is extremely difficult. Are they right?