Why This Finance Expert Says You Don't Need to Budget

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 1 January 2025

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most personal finance advice falls into one of two camps: one that implicitly assumes that humans need discipline, control, and punishment, and the other that says people are fundamentally good, reasonable, and worthy of trust and confidence. So when I read Dana Miranda's You Don't Need a Budget and realized her system was in that latter bucket, it challenged my own ideas of "budget culture" and what trusting yourself with money might actually look like. Dana joins us on the show today to talk through it all. Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/budget-culture. Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Curry's Business.
0:03.1	Whether you run a bustling cafe, a busy office or an inspiring classroom,
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0:19.4	Shop at business.curries.co.com.
0:21.2	Visit your local hub or call their UK-based specialist business center.
0:26.1	Curry's Business, powering your business in 2025.
0:36.6	What I really want people to hear is trust yourself, learn to trust yourself.
0:41.9	It's a big project.
0:43.5	And a big part of it is letting go of that message that says you can't be trusted to make decisions for yourself.
0:49.8	And that's what I hear when people say that budgeting makes them feel more in control is this feeling that they believe if they're not planning and tracking every dollar, that things will completely fall apart and their life will be destroyed.
1:06.3	Because that's the messaging that we get, really, no matter what you've got access to, what your resources are, what your income is, how much wealth you have, we still have that message. It has to be tracked. We have to be disciplined.
1:18.6	Welcome back, Rich Girls and boys to the first 2025 episode, The Money with Katie Show.
1:36.2	Man, 2025. That means it has been five years since I started Money with Katie. You've been doing
1:41.9	this for half a decade. That's wild. And three years since the Money with Katie. You've been doing this for half a decade. That's wild.
1:50.6	And three years since the Money with Katie brand became part of Morning Brew, which is also pretty hard to believe.
1:52.5	The idea that we are discussing today is something I never could have imagined just a
1:57.1	couple of years ago because it asks something kind of blasphemous, what if budgeting doesn't work?
2:10.4	I know, I'm going to let that sink in for a second. What if budgeting doesn't work?
2:32.3	What if budgeting doesn't work? The idea is part of something that writer Dana Miranda calls budget culture.
2:40.5	Now, her work first crossed my radar, entered my radar in 2022, actually kind of unbeknownst to me when she wrote a guest piece on anne helen peterson's culture study
	...

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