Money management is hard. That’s why so many people don’t do it. Over the years at many credit counselling sessions with clients I’ve explained budgeting, and spreadsheets, and budgeting apps, and lots of other techniques to manage money.  Some of my clients love the process of recording every transaction.  Others, not so much.

So, what can you do if you want to keep track of your money, but don’t have the time or the inclination to keep a spreadsheet or spending journal?

You cheat.

By cheat, I don’t mean “act dishonestly”, I mean “avoid something undesirable by luck or skill”, like eating healthy to “cheat” getting sick.

On today’s podcast I give my thoughts on how to manage your spending without a budget, and I explain how the 80/20 rule, known as the Pareto principle, can be used in all areas of money management, and in life.