Yes, I know that keeping a monthly budget is personal finance 101.  Over the years I've tried, repeatedly, to track every expense in a monthly budget. Each time I failed after a few months. It's just too much work. I have better things to do than be a part-time bookkeeper. 

Tracking all your expenses is easier than ever. Programs like Quicken and Mint have powerful accounting tools in simple to use packages. Still...most of us don't track monthly expenses or keep monthly budget for one simple reason; We have better things to do than being a part-time bookkeeper. 

In this episode, I walk you through my budget system which gets you 80% of the benefits of detailed budgeting, without all the work. In just four easy steps you can take control of your spending and capture the excess income as savings. 

I Call It the Cash Flow Bucket System.

The advantages of the Cash Flow Bucket System:

1. You don’t waste time tracking every transaction.

2. You have less stress deciding how to spend money each month.

3. You don’t spend money just because it’s there.

4. You easily capture (save) excess income as savings.

5. You can make smarter decisions on allocating savings.

6. You maintain flexibility for unexpected expenses.

I've added a worksheet to the Retirement Answer Library to walk you through the process. It's free, just sign up here.

I give you Sammy's 5 secrets to living a happier retirement. These are worth listening to!