• Tip'd Home » Personal Finance » Why Budgets Fail - Use Accrual Accounting to Ensure Success

Comments

ObliviousInvestor 1073 days ago

You're absolutely right here, it's important to have a meaningful way to account for quarterly or annual expenses. If you don't, your budgets will never make any sense.

Of course, that doesn't mean we can ignore cash flow when budgeting...

amabaie 1073 days ago

It's all about discipline. Budgets, diets, fitness plans, styudying...success is about discipline.

pimpyourfinances 1073 days ago

@ oblivious - what exactly do you mean about ignoring cash flow? I'd like hear what you had in mind

pimpyourfinances 1073 days ago

@ amabaie - I would add that it's easier to be disciplined when you have a repeatable process. It really helps me to have a regular routine that I can stick to and plan on. Once I get started, it's easy to keep momentum. But if I fall off, it's much harder to get started again

abbelani 1070 days ago

@pyf fantastic post. A lot of personal finance posts just rehash common sense as financial advice, but I think this is something that is definitely overlooked by most people. Very helpful, thanks for the post.

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